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10 cards from this deck
Departures from perfect competition conditions
Buyers/sellers lack complete market knowledge
One party has significantly more info than the other
Drives down prices; sellers may withdraw from market
Restrict output & raise prices above competitive levels
Inability of workers to move from one job to another
Workers lack skills to move between different job types
Geographical barriers prevent workers moving for jobs
Unemployment, labour shortages, resource waste
Technology eliminated need for 'the knowledge' training
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