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Essay / Research Paper Abstract
This 3 page paper looks at how and why market failure has occurred in Turkey with healthcare. The paper defines market failure and then considers the way it is seen in Turkey and some of the causes. The bibliography cites 6 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEturkmarf.rtf
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Unformatted sample text from the term paper:
instability there are also increased chances for the emergence of a market failure, In the case of Turkey and the competing needs this is what is seen in terms of
the health policies. Market failure is a term often used but often misunderstood. Quiet simply market failure occurs when the market does
not allocate resources in an efficient manner (Howells and Bain, 1998). In many cases the market failure may be one that goes unnoticed, on other occasions it is one that
creates headlines (Nellis and Parker, 2000). The presence of market failure is often put forward as a reason for regulation in order to prevent market failure from occurring but in
the case of turkey the failure can be seen ad government led. It is worth noting hat different market may be likely to see different types of market failure, and
as such it is an issue for all markets, but it is also one that may be seen as key in the economic development of third world nations, as market
failure here may not only be minor, but a major problem, causing problems such as food shortages. When looking at market failure
four main potential causes have been identified, these are market power abuse, the influence of externalities, the need for public goods and the present of asymmetric information. In health this
is the failure as a result of the need for public goods. The need for the healthcare is apparent in Turkey, but
this is not a market where there can be a great deal of investment by commercial enterprises as there is not the economic power to create a profit. If left
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