Market failure occurs when:
A) the price system fails to equalize income differentials between individuals.
B) public policy produces a problem for society or fails to achieve society's goals.
C) the price system produces a problem for society or fails to achieve society's goals.
D) government intervention in a market distorts price signals and produces inefficiency.
Correct Answer:
Verified
Q75: Market economies tend to produce goods and
Q76: A drawback of the market system in
Q77: A weakness of a market system is:
A)
Q78: When a market system causes a problem
Q79: Cost-minimizing efforts by businesses that lead to
Q81: Market failure occurs when:
A) a small number
Q82: Which of the following is an example
Q83: An example of government intervention in input
Q84: Which of the following would NOT be
Q85: An example of government intervention in output
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