+1 862 207 3288 Firstly, this paper is going to look at the different types of markets within the economy and within the business environment. By discussing each of the different markets and how they work this paper will examine why markets fail and look at the different aspects of the environment that influence them. Finally the paper will relate market failure to the Government and evaluate what their role is within failure taking into account how they go about market failure and what they do to help and prevent it.
A market is a place where the outcomes of demand and supply operate. It is a place where buyers and sellers interact through go-betweens or directly with each other. This can include different activity like trading goods, services or contracts, usually for money or for barter during high times of inflation or tight money. Barter could mean swapping goods for advertising space or tim…(short extract)
