Education's benefit to society is an example of an externality.
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Q187: Freely functioning markets
A) always produce an efficient
Q188: The life insurance industry is an example
Q189: The result of market failure is waste
Q190: National defense is an example of a
Q191: The outcome of any free market is
Q193: National defense is an example of an
Q194: Externalities are only inefficient when they impose
Q195: A freely functioning market
A) will always be
Q196: Social goods are goods and services that
Q197: Market failure occurs when resources are misallocated.
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