A situation in which the market system allocates too few resources to the production of a given activity is known as
A) market allocation.
B) market failure.
C) market efficiency.
D) market signaling.
Answer: B
You might also like to view...
When there are many goods is that in a barter system
A) transactions costs are minimized. B) there exists a multiple number of prices for each good. C) there is only one store of value. D) exchange of services is impossible.
In a one-period economy
A) consumption equals disposable income. B) consumption equals disposable income plus the value of non-market work. C) savings is always positive. D) consumers may increase their consumption by borrowing.
In 2011, Netflix raised prices on its DVDs and internet streaming plan. The Reed Hastings, CEO of Netflix, believes
a. Netflix is an industry leader thereby making the demand curve inelastic b. Netflix is an industry leader thereby making the demand curve elastic c. People are willing to pay more for the good d. There are many substitutes to Netflix's products
Infrastructure, such as public works and public services, is also referred to as
A. social capital. B. human capital. C. tangible capital. D. intangible capital.