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Market failure describes a situation in which the market itself ______________________ in a way that balances social costs and benefits. Group of answer choices fails to allocate resources efficiently remains outside the transaction avoids externalities incurs the costs outside the production process

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When there is market failure, it means that the market itself fails to allocate resources efficiently between social costs and benefits.

What causes market failure?

Market failure happens when the market does not balance its social costs and benefits efficiently.

For instance, the costs might outweigh the benefits which leads to losses and so a market failure would occur.

Find out more on market failure at https://brainly.com/question/18958169.

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