Examlex
Which of the following is NOT true of the Great Awakening?
Market Failure
A less than efficient allocation of resources.
Public Goods
Public goods refer to commodities or services that are made available to all members of a society, typically funded by the government, and characterized by non-excludability and non-rivalry in consumption.
Externalities
Consequences of an economic activity experienced by unrelated third parties; can be positive or negative.
Market Failure
A situation where the allocation of goods and services by a free market is not efficient, often justifying government intervention.
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