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Lessons on Concept 'Market Failures' for 9-12

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Market Failures and Government Regulations: Is the Cure Worse than the Disease?
Grade 9-12 / EconEdLink: Economic efficiency is something much more than producing goods at the lowest possible cost. In involves providing individuals with the goods and services they desire, in the quantities, qualities, places, and times they desire them, with the least use of society's scarce resources.