market failure on white

market failure economic inefficiency externalities public goods regulation intervention distortion imperfect competition asymmetric information monopoly oligopoly antitrust price fixing collusion cartels consumer protection environmental degradation government fiscal policy monetary income inequality poverty social welfare resource misallocation tragedy commons moral hazard adverse selection principal-agent problem rent seeking power deregulation equity efficiency loss external costs internalize rider natural subsidies taxation incentives redistribution choice privatization common resources incentive compatibility institutional trade barriers globalization correctives