A situation in which workers and employers fail to achieve an outcome that all would prefer is known as _____
A) a supply failure.
B) a demand failure.
C) a coordination failure.
D) broken negotiations.
E) a contract.

Question

Quizplus · Accepted Answer

A situation in which workers and employers fail to achieve an outcome that all would prefer is known as a coordination failure. This occurs when both parties fail to coordinate and come to an agreement on the terms of employment, resulting in an inefficient outcome for both parties. A supply failure occurs when suppliers cannot provide enough goods or services to meet demand, while a demand failure happens when consumers do not want the goods or services being offered. Broken negotiations imply that the negotiation process happened but failed, while a contract is a legally binding agreement between parties.

A Situation in Which Workers and Employers Fail to Achieve