Market Failure

question 14

Multiple Choice

Market failure

• A)caused the collapse of centrally planned economies in Eastern Europe.
• B)is the consequence of government involvement in the economy.
• C)is something that never happens in a market economy.
• D)occurs when the market is unable to allocate resources correctly.
• E)occurs only when supply exceeds demand.

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Definitions:

Employment Downsizers

Companies or individuals involved in the process of reducing the workforce to cut costs and improve organizational efficiency, often through layoffs or terminations.

Procedural Justice

The fairness and transparency of the processes that lead to outcomes or decisions, which can affect perceptions of fairness and organizational trust.

Discipline

Refers to the system of rules and procedures for how and when punishment is administered and how severe the punishment should be.

Ethicality

The degree to which behaviors, decisions, or actions are in alignment with accepted moral standards and principles.