Labour market failures Like product markets, labour markets can also fail. The main types of labour market failure are the ...

Price stabilisation Many primary markets are subject to extreme fluctuations in price.  There are several methods of intervention available to ...

COP21 The Paris Summit The United Nations Framework Convention on Climate Change (UNFCCC), which was held back in 1992, represented the first ...

Inefficiency Under certain circumstances, firms in market economies may fail to produce efficiently. Inefficiency means that scarce resources are not ...

Monopoly power A pure monopoly is defined as a single supplier. While there only a few cases of pure monopoly, ...

Lack of property rights Markets are efficient at producing private goods, largely because producers and consumers have the right of ...

Government failure Government intervention to resolve market failures, and to manage the macroeconomy, can fail to achieve a socially efficient ...

Unequal income distribution Markets may result in a very wide distribution of income, such that some individuals may receive no ...

Financial market failures Financial market failures refer to situations where financial markets fail to operate efficiently, causing lost economic output ...

Unstable markets Some primary markets can become unstable and require intervention to help them stabilise. In particular, many food producers ...