Spot price of West Texas Intermediate in relation to the price of Brent Crude. Historically price differences between Brent and other index crudes have been based on physical differences in crude oil specifications and short-term variations in supply and demand.
When does market failure occur? Whenever resources are not allocated efficiently. ie. total surplus is not maximised. What are the main types of market failure?
Other major stock market crashes include: 1  Stock Market Crash of 1973-1974. 2  Black Monday of 1987. 3  Dot-com Bubble of 2000. 4  Stock Market Crash of 2008.