Market Failure Market failure is a situation in which a givenmarket does not efficiently organize production or allocate goodsand services to consumers. Overcoming market failure is asignificant challenge for the government, which is not easy toaccomplish and may require intervention. In this Discussion, youwill consider what the government can do to regulate marketinefficiencies. Post by Day 3 a 250- to 300-word statement thataddresses the following:
- Give one example of a market failure, such as air pollution, water pollution, illegal immigration, orchild labor, that is an international problem.
- Describe the roleof the U.S. government in addressing this international marketfailure and explain why the U.S. cannot unilaterally solve theproblem.
- Explain how individual economic decisions affect thismarket failure and how economic principles can be applied to modifythose individual decisions to help correct the market failure.