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Immobility & inequality as market failure

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AQA, Aquinas, Economics, ECON1, Markets, Market Failure

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Immobility & inequality as market failure

  1. 1. ECON1 WWW.AQUINASECONOMICSAS.CO.UK @AQUINASECONOMIC Imobility & Inequality Answer all the questions below 1. Explain the term occupational immobility 2. Explain the term geographical immobility 3. Why might labour immobility lead to a misallocation of resources and ultimately a market failure? 4. Explain the term income 5. Explain the term wealth 6. Why can disparities in the levels in income and wealth be seen as a market failure?

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