Market failure

What is market failure?
public and merit goods(missing markets)
immobility of factors of production
lack of competition
poverty and inequality in an economy
information failure
externalities in production&consumpyion

market can fail for lots of reason and the main causes of market failure are summarized below:
1 negative externalities
2 positive externalities
3 imperfect information
4 pure public goods and quasi-public goods
5 market dominance by monopolies
6 factor immopolies
7 equity(fairness)issues

market failure results in
-productive inefficiency
-allocative inefficiency