what occurs when the free market is not able to allocate resources and goods and services efficiently

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05-04-2021
Business

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what occurs when the free market is not able to allocate resources and goods and services efficiently

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topeadeniran2 topeadeniran2 · Answer 1 · 2021-04-10T04:38:50-04:00

Answer: Market failure

Explanation:

When the free market is not able to allocate resources and goods and services efficiently, this situation is referred to as market failure.

Market failure brings about disequilibrium in the market as the quantity supplied and the quantity demanded aren't in equilibrium anymore as there's market distortion. It takes place when the quantity of good. The distortion may be as a result of monopoly power.

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