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10 cards from this deck
Free market fails to allocate resources efficiently
Costs/benefits not fully reflected in market prices
Total cost to society (private + external costs)
Overproduction of goods with harmful effects
Underproduction of beneficial goods
One person's use doesn't reduce availability for others
Can't prevent non-payers from using the good
Beneficial goods under-consumed without intervention
Harmful goods over-produced by market
Factors preventing new businesses entering market
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