Original sentence: Market failure is a theoretical concept in economics which describes a situation in which it's claimed that a market is not efficiently allocating goods and services.The term is normally applied by economists to situations where the perceived inefficiency is particularly dramatic, or when it is suggested that non-market institutions (such as government police and fire services) would be more efficient and welfare-enhancing than market solutions
Edited sentence: Market failure is a term used in economics to describe a situation in which markets do not efficiently allocate goods and services.The term is normally applied by economists to situations where the inefficiency is particularly dramatic, or when it is suggested that non-market institutions (such as government police and fire services) would be more efficient and welfare-enhancing than market solutions