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Market distortion
Market distortion
A market distortion is a specific type of market failure brought about by deliberate government regulation which prevents economic agents from freely establishing a clearing price.
Examples:
- Prescribing a certain price (setting price caps as well as price floors) by non-market means (e.g. price regulation - cf. socialist economy)
- Restricting the manufacture or importation of a certain good, which thereby restricts supply.
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Last updated on Tuesday September 09, 2008 at 10:12:44 PDT (GMT -0700)
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This article is licensed under the GNU Free Documentation License.
Last updated on Tuesday September 09, 2008 at 10:12:44 PDT (GMT -0700)
View this article at Wikipedia.org - Edit this article at Wikipedia.org - Donate to the Wikimedia Foundation
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