Recessions and depressions are the principal examples of

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Quizplus · Accepted Answer

Recessions and depressions are examples of coordination failure because there is a misalignment between buyers and sellers in the market, leading to a decrease in production and employment. Market failure refers to situations where the market does not allocate resources efficiently, central planning pertains to a system where the government controls all economic decisions, and socialist contradictions do not apply to this context.

Recessions and Depressions Are the Principal Examples of