Examlex
Which of the following statements about TSEs (transmissible spongiform encephalopathies) is false?
Market Failure
The failure of a market to be efficient; when the individual pursuit of self-interest leads to bad results for society as a whole.
Market Power
The ability of a producer to raise prices.
Externalities
External benefits and external costs.
Public Goods
Goods that are non-excludable and non-rivalrous, meaning individuals cannot be effectively excluded from use, and where use by one individual does not reduce availability to others.
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