Market Failure
Market failure.
Negatives – waste, CO2 emission from factories or cars causes pollution... It's a cost that is suffered by a third party.
To get a healthy middle in a society we all need to participate and do our bit as an individuals.
IMPERFECT COMPETITION is a situation or market structure where individuals, producers or consumers, got some control over market prices. It is very competitive market situation – the goal is to earn more profit. It is divided into 3 sections:
a) Monopoly – where one large company has huge control over the market. The great example of it is “Guinness” products – there is no other such well-known product of this sort, and it greatly dominates the market.
We have to understand that we are all responsible for our waste. It is up to us how do we deal with it. But it has to meet government’s regulations and legislations. Businesses waste accounts for 85% of all the waste generated in Scotland. Businesses and other parties/ individuals have to recycle reuse and refurbish their waste. There are penalties for littering and unauthorised disposal of waste.
The most common is products reuse and refurbishment throughout the recycling:
