Look up: Market-failure

1. 
   Market failure
   Market failure occurs when the workings of the price mechanism are imperfect and result in an inefficient or grossly unfair allocation of resources from the perspective of society. Examples include, the education and defence markets.
   Found on http://www.bized.co.uk/cgi-bin/glossaryd
   
   
2. 
   Market Failure
   Market failure occurs when the price mechanism results in an inefficient or grossly unfair allocation of resources.
   Found on http://www.bized.co.uk/virtual/dc/resour
   
   
3. 
   Market failure
   `Market failure` is a term used by economists to describe the condition where the allocation of goods and services by a market is not efficient. Market failure can be viewed as a scenario in which individuals' pursuit of self-interest leads to bad results for society as a whole. The first known use of the term by economists was in 1958, The belief that markets can fail is a common mainstream justification for government intervention in free marke...
   Found on http://en.wikipedia.org/wiki/Market_fail
   
   
4. 
   Market failure
   The inability of arm`s length markets to deliverer goods or services. A multinational corporation`s market internalization advantages may take advantage of market failure.
   Found on http://www.duke.edu/~charvey/Classes/wpg
   
   
5. 
   market failure
   A situation, usually discussed in a model not in the real world, in which the behavior of optimizing agents in a market would not produce a Pareto optimal allocation. Sources of market failures: -- monopoly. Monopoly or oligopoly producers have incentives to underproduce and to price above marginal cost, which then gives consumers incentives to buy...
   Found on http://www.econterms.com/glossary.cgi?qu
   
   
6. 
   Market failure
   Any market imperfection, but especially the complete absence of a market due to incomplete or asymmetric information.
   Found on http://www-personal.umich.edu/~alandear/