market failure
Word Rarity
Uncommon
Frequency: Zipf frequency 4.62 in modern English
22
Scrabble Score
13
Letters
4
Syllables
10
Unique Chars
Meaning
noun
A situation in which the allocation of goods and services by a free market is not efficient.
Countable; Uncountable
Example Sentences
- "From a policy perspective, market failure should be a matter of concern when market performance significantly deviates from the appropriate efficiency benchmark."
- ""Climate change is a result of the greatest market failure the world has seen. The evidence on the seriousness of the risks from inaction or delayed action is now overwhelming. We risk damages on a scale larger than the two world wars of the last century. The problem is global and the response must be a collaboration on a global scale.""