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Market Failure - Mind Map

Mind Maps have been produced to introduce topics and give students an overview of key topics being studied. The maps can be viewed as a whole page or, for those who prefer a more linear approach, as a text version.

View larger version of the mind map.

• Merit Goods
  • Health
  • Education
• De-MeritGoods
  • Tobacco
  • Alcohol
  • Ilegal Drugs
• Public Goods
  • Non-Excludable
    • Free rider principle
  • Non-Rival
• Immobility of Factors of Production
  • Surpluses
  • Shortages
  • Regional Problems
• Equity and Efficiency
• Market Power
  • Monopolies
    • X-Inefficiency
  • Oligopolies
• Externalities
  • Social Costs (Negative)
  • Social Benefits (Positive)