What are two types of market failure for small businesses in Australia?

Although, every business has a dream of succeeding, there is always an element of risk when operating a small business. The ability to both survive and flourish in a competitive market is always a challenge. Market factors that determine both supply and demand are critical two types of market failure for small businesses in Australia may involve external factors that develop as a result of the business operations, including effects of the business operations leading to other problems, e.g., pollution. Another critical factor is the presence of competitive markets in the region where the small business operates, e.g., a large corporate competitor.

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