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Information Failure and market failure
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I think i got the right amount of products at right price
Okay but the price you pay is much more higher than what is charged in this shop
Okay, I think I don't have the properinformation about price reduction
so you have taken a wrong purchasing decision by buying at high price
Our government doesn't give even the right information on job vacancies
That's true our market if failing by not giving the information about the jobs available also
Hi, what is the price of this car?
I think he doesn't know about the rate of the used cars. Let me fix a high price and make profit
What happens if there is information failure?
From the above scenes it is clear that there is information failure
Not knowing the right price and buying leads to wrong economic decisions
Here there is market failure due to information failure
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