When Markets Fail

question 129

Multiple Choice

When markets fail:

• A)government intervention may help.
• B)the market realizes the maximum possible gains from trade given the available resources.
• C)there may still be an efficient allocation of resources.
• D)no goods and services are produced.

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Definitions:

Differentiation

Differentiation refers to the process of distinguishing or becoming different through development or specialization, in biological, psychological, or educational contexts.

Canalization

A concept in developmental biology and psychology referring to the ability of an organism to produce the same phenotype regardless of variability in its environment or genotype.

Human Faces

The front part of a person's head, including the eyes, nose, mouth, and expression, important for identity and emotional communication.

Infants

Very young children or babies, typically under one year of age.