Info Gaps And Admin Costs Flashcards

1
Q

How does info gaps lead to market failure ?

A

As they are forced to make difficult decisions without full info on the cost and benefit of their choices

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2
Q

What is an example of gov of info gaps

A

Underestimating costs of projects and wasting billions

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3
Q

How do admin costs lead to gov failure ?

A

If the nhs could afford more medical supplies, they would be able to save more lives. This could be prevented if resources won’t allocated to admin costs

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