Q 1. The goal of good governance is to create fairly distributed wealth among all who add a value to the system. 2. Platforms have much to learn from cities and states, which have had thousands of years to evolve principles of good governance. 3. Market failure is a situation in which “good” interactions (fair and mutually satisfactory) fail to occur while “bad” interactions (as a result of seller fraud or wrong filtering) occur instead. 4. Which one of the following, in general, is not a main cause of market failures? 5. Consider the problem of counterfeit goods, when the seller knows that the goods are fake but does not inform the buyer. This creates a market failure. Which one of the causes of market failure best explains this situation?

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