{"id":5269,"date":"2019-02-14T08:47:45","date_gmt":"2019-02-14T03:17:45","guid":{"rendered":"http:\/\/astan.lk\/al_virtualclassroom\/?p=5269"},"modified":"2019-02-16T10:40:46","modified_gmt":"2019-02-16T05:10:46","slug":"market-system","status":"publish","type":"post","link":"https:\/\/astan.lk\/al_virtualclassroom\/market-system\/","title":{"rendered":"Market System"},"content":{"rendered":"<h3><span style=\"color: #000000;\">Failure of the Market system<\/span><\/h3>\n<ul>\n<li>Failure of the free market system means that the market mechanism is unable to allocate scarce resources for social benefit.<\/li>\n<\/ul>\n<h3><span style=\"color: #000000;\">Factors cause Market failure<\/span><\/h3>\n<ul>\n<li>Externalities<\/li>\n<li>Imperfect competition<\/li>\n<li>Imperfect information<\/li>\n<li>Non provision of public goods<\/li>\n<li>Inefficiency in the provision of quasi public goods<\/li>\n<li>Provision of demerit goods<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Failure of the Market system Failure of the free market system means that the market mechanism is unable to allocate scarce resources for social benefit. Factors cause Market failure Externalities Imperfect competition Imperfect information Non provision of public goods Inefficiency in the provision of quasi public goods Provision of demerit goods<\/p>\n","protected":false},"author":842,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[54,2693],"tags":[],"class_list":["post-5269","post","type-post","status-publish","format-standard","hentry","category-economics","category-unit-8-en"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Market System - Learning &amp; Education Portal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/astan.lk\/al_virtualclassroom\/market-system\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market System - Learning &amp; Education Portal\" \/>\n<meta property=\"og:description\" content=\"Failure of the Market system Failure of the free market system means that the market mechanism is unable to allocate scarce resources for social benefit. 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