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Information Failure and market failure
Updated: 4/28/2020
Information Failure and market failure
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Storyboard Text

  • 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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