Market Efficiency and Failure · Microeconomics
The Price Mechanism and Resource Allocation
Analyzing how signaling and incentive functions of prices coordinate the behavior of consumers and producers.
Key Questions
- 1What incentives are driving this behavior?
- 2How do shifts in consumer preference redefine the allocation of scarce resources?
- 3Who benefits and who bears the costs of price volatility in essential markets?
MOE Syllabus Outcomes
MOE: Market Mechanism and Resource Allocation - JC1MOE: Market Efficiency and Failure - JC2
Level: JC 2
Subject: Economics
Unit: Market Efficiency and Failure
Period: Microeconomics
Suggested Methodologies
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