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market clearing price
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Also available:
World English Dictionary
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market failures approach
mar·ket fail·ures ap·proach
noun
Definition:
argument for government intervention in markets:
the idea that a government should intervene when markets fail to allocates resources efficiently or fairly
Encarta® World English Dictionary [North American Edition] © & (P)2009 Microsoft Corporation. All rights reserved. Developed for Microsoft by Bloomsbury Publishing Plc.
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