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arket failure arises when the market system fails to allocate resources efficiently, justifying the need for government intervention (Mohr and Associates, 2015). Support this statement

arket failure arises when the market system fails to allocate resources efficiently, justifying the need for government intervention (Mohr and Associates, 2015). Support this statement by providing a thorough discussion of the causes of market failure and how the South African government can intervene. (15)

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