Market failure occurs when
A) a good is too expensive for the market to provide.
B) an unrestrained market economy leads to too few or too many resources going to a specific economic activity.
C) one good is superior to another and drives it out of the market.
D) the stock market experiences a very large loss.
Correct Answer:
Verified
Q1: When the price system fails to generate
Q2: Consumers are sovereign when
A) prices are decided
Q4: When misallocation of resources for production of
Q5: When market failures occur
A) the invisible hand
Q6: Market failures occur when
A) externalities exist.
B) economic
Q7: When there are too few or too
Q8: Which of the following is a benefit
Q9: Market failure occurs when
A) the price system
Q10: Which of the following terms describes the
Q11: The price system allocates resources efficiently EXCEPT
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