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-definition =>complete, market not supply at all=missing markets and partial=>wrong quantity or price

-example with diagram

-explanation

The first is in a closed economy, where there are just households and firms present and thus no exchange between the two in terms of spending and transfer of goods and services. The second is in an open e...

An increase in the ROI(rate of interest) would increase the reward for saving money and hence increase consumers' incentives to save. This would reduce the levels of consumption in the economy and hence r...

One positive impact of a merger could be due to economies of scale. One economy of scale that could occur is bulk buyinh economies of scale. As a firm gets larger and output increases through a merger, it...

A decrease in supply (1) A decrease in demand (1) A reduction in overall market quantity (1) An indeterminable effect on price (1) Effect will depend upon relative size of the shifts (1) and the price ela...