what is the difference between government failure and market failure? Are they related to each other?

[chin]

Market mechanism will not always lead to an optimum allocation of resources, this is called market failure.

Government failure occurs when the government intervention leads to a net welfare loss rather than a net welfare gain. government intervention can be in many forms, taxes, subsidies, laws, rules n regulations... etc etc

Market failure happens when the market mechanism fails to allocate resources efficiently. the efficiencies are :
Social Efficiency
Allocative Efficiency
Technical Efficiency
Productive Efficiency

Market Failure occurs where:
Knowledge is not perfect - ignorance
Goods are differentiated
Resource immobility
Market power
Services/goods would or could not be provided in sufficient quantity by the market
Existence of external costs and benefits
Inequality exists