Tag: \’market failure

Discuss and demonstrate an awareness of the different types of market structure (both product and factor markets) within which businesses operate and understand the likely impacts of various types of ‘market failure’ on business activity.

a) Assess the ways in which resources are allocated and individual households and firms operate within market based and other types of economic systems b) Demonstrate an awareness of the different types of market structure (both product and factor markets) within which businesses operate and understand the likely impacts of