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8 billion; it offers chances to areas on manufacturing, construction, retail with the healthcare system being the sixth sector with employment offers. However, market failures arise in the healthcare system, for instance, inadequate responsiveness to change measures put on treatment this would have risen due to providers and people basing old ways of dealing with diseases and thus put focus on curative care. Also, failures incurred on health care sector would be as a result of not enough emphasis on preventive health its source being that most provisions depend on signals from markets which at times have been slow to modify. Australian health care sector has patients’ services procedures not well coordinated in that there are no well-known strategies to meet needs of patients (Tukker, 9973). There is also an observed failure arising from inappropriate configuration of services this is because of the government particularly in the private section investments being hampered due to not en...

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Economics
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Market Failure

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