market failure
noun[SorU]
ECONOMICSukusasituationin which amarketdoes notoperateas it should, forexamplewhere thesupplyof aproductis notrelatedto thelevelofdemandfor it:
Protectingcarproductionin thefaceofmarketfailurehas,farfromhelpingthem,lockedthepeopleof theareainto aneconomywhich cannotsustainitself.