Economists use the term "market failure" to refer to those free-market situations where
A) income is not distributed equitably.
B) allocatively efficient outcomes are not achieved.
C) externalities are present in the economy.
D) the economy is not in equilibrium.
E) government has intervened in the economy.
Correct Answer:
Verified
Q1: When prices are determined in a free-market
Q3: In a competitive market economy with no
Q4: The "informal defence" of free markets includes
Q5: Which of the following roles of the
Q6: Which of the following statements about market
Q7: Economists describe prices as "signals" in a
Q8: In a free-market economy that is continually
Q9: In a free-market economy,
A)temporary shortages and surpluses
Q10: In a free-market system,a disequilibrium in one
Q11: Which of the following statements about free-market
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents