Market Failure Is the Inability of

question 390

Multiple Choice

Market failure is the inability of

• A)buyers to interact harmoniously with sellers in the market.
• B)a market to establish an equilibrium price.
• C)buyers to place a value on the good or service.
• D)some unregulated markets to allocate resources efficiently.

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Definitions:

Oldest-old

A demographic term referring to individuals typically aged 85 years and older, focusing on the distinct social, health, and psychological needs of people in this age group.

Feeble Person

refers to an individual with physical or mental weakness, often due to age or illness.

Nursing Home

A residential facility offering specialized care and assistance for elderly or disabled individuals.

Young-old

A term used to describe individuals typically in their 60s and 70s who are considered to be in the early stage of old age but are often healthy and active.