Describe at least three reasons why market failure occurs.
What will be an ideal response?
When markets fail to maximize efficiency, fail to perform according to societal expectations, and are inefficient because of monopolies, externalities, or imperfect information.
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The __________ a person is, the __________ they are to vote.
A. younger; more likely B. older; more likely C. older; less D. younger; more
Safety requirements for automobiles are an example of client politics
Indicate whether the statement is true or false
The most embarrassing Gallup poll failure in predicting a presidential election was
A. 1948 Truman-Dewey. B. 2000 Bush-Gore. C. 1936 Roosevelt-Landon. D. 1928 Hoover-Smith. E. 1964 Johnson-Goldwater.
A democratic system in which citizens vote to select who will represent their interests rather than voting on the actual issues of the moment themselves is a ______.
A. direct democracy B. constitutional monarchy C. representative democracy D. capitalist democracy