Market Failure key terms 0.0 / 5 ? EconomicsMarket FailureInternational BaccalaureateAll boards Created by: mili.vCreated on: 04-07-19 16:17 64732891510 Across 1. consumption by one person reduces its availability to someone else (9) 5. goods that are considered harmful to the individual and society as a whole, and are usually over-provided in a free market (7, 5) 6. it exists because no one is willing to pay for a good or service when there is hope that somebody else will pay for it. This is why the good will not be provided by the free market. (4, 5, 7) 7. refers to the ability to maintain or preserve natural resources (14) 10. refers to the cost of society when one more unit of a good is produced (8, 6, 4) Down 2. is a method of reducing the levels of carbon dioxide emitted from burning fossil fuels. (6, 3) 3. possible to exclude others from using the good once it has been provided, because you have to pay for the good to use or consume it (10) 4. are goods that would not be provided at all in a free market but which are necessary and benefitial to society. They are non-rivalrous and non-excludable but underprovided. (6, 5) 8. goods which are rivalrous and excludable (7, 5) 9. goods that are beneficial to the individual and society as a whole, and are usually under-provided in a free market (5, 5)
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