Market failure is the inability of
a. buyers to interact harmoniously with sellers in the market.
b. a market to establish an equilibrium price.
c. buyers to place a value on the good or service.
d. some unregulated markets to allocate resources efficiently.
d
You might also like to view...
Utilitarianism argues that
A) Only equality brings efficiency. B) There is a tradeoff between equality and efficiency. C) The result is fair if the rules are fair. D) The competitive market is fair.
Define what dead capital is and why economists are concerned with its existence
What will be an ideal response?
Which of the following is a prediction of the median voter model for a two person political race?
A) Candidates will try to present themselves as extremists. B) Candidates who are behind in the polls will try to move closer to the position of their opponents. C) Candidates will try to label their opponents as "too middle-of-the-road." D) Candidates will try to be specific and clear about their own programs and the means of achieving them.
The following data about a hypothetical economy are in billions of dollars.
A.
+$150 billion
B.
-$20 billion
C.
+$20 billion
D.
-$65 billion