"I recognize that the market is effective at getting resources to their most valued uses, but I also recognize that the market can produce results that are grossly unfair." This speaker is implying:
A) both market failure and failure of market outcome.
B) market failure but not failure of market outcome.
C) failure of market outcome but not market failure.
D) neither market failure nor failure of market outcome.

Question

Quizplus · Accepted Answer

The speaker acknowledges the efficiency of markets in resource allocation but criticizes the fairness of the outcomes, indicating a failure of market outcome without necessarily implying a market failure.

"I Recognize That the Market Is Effective at Getting Resources