Imagine that the International Encyclopedia of Economics for Public Policy (which is entirely fictitious) has hired you to produce an approximately one thousand word entry on Market failure.

Your editor expects you to address, in relatively equal proportions, all of the following with respect to your selected theory/concept:

1. Origins

2. Elements

3. Economic and Public Policy Applications

4. Criticisms

Your editor also expects to you cite (both in-text and in a separate Works Cited) at least four reputable (e.g. scholarly) sources to support your argument.

Entries will be evaluated based on the quality of the analysis, clarity of the writing, and professionalism of the document. Please note that brevity with depth is a key to completing this assignment successfully. You have few words to cover a lot of material. Edit ruthlessly.