खालीलपैकी कोणत्या क्षेत्रात बाजारपेठा अयशस्वी ठरून सरकारी हस्तक्षेप महत्त्वाचा ठरला आहे? (a) मक्तेदारी व वस्तुंची किंमत. (b) आर्थिकदृष्ट्या मागास घटकांना सार्वजनिक वस्तुंची उपलब्धी. (c) सिंचन, रेल्वे, रस्ते यांसारख्या पायाभूत सुविधा. (d) अपूर्ण स्पर्धायुक्त बाजारपेठ. पर्यायी उत्तरे :

The correct answer is Option D (All of the above).

Key Points:
• In welfare economics, market failure occurs when the free market fails to allocate resources efficiently or equitably, necessitating state intervention.
• Monopoly and price distortion (a) represent market failure where a single seller exploits consumers, requiring anti-monopoly laws and price regulation.
• Provision of public goods for backward sections (b) fails in private markets due to the non-excludability principle, requiring government welfare intervention.
• Infrastructural facilities like irrigation, roads, and railways (c) are classic examples of public goods and natural monopolies characterized by huge capital outlays and long gestation periods, where private markets under-invest.
• Imperfect competition (d) creates deadweight loss and allocative inefficiency.
• Since all four conditions constitute recognized causes of market failure, option (4) (All of the above) is correct.
• Key Takeaway: Market failures requiring government intervention include monopolies, public goods, infrastructure, and imperfect competition.