Market Failure Occurs When

question 229

Multiple Choice

Market failure occurs when:

• A) markets are competitive.
• B) private decisions do not result in an efficient allocation of scarce resources.
• C) private decisions result in an efficient allocation of scarce resources.
• D) private decisions generate the highest level of consumer satisfaction.

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Definitions:

Health Belief Model

A psychological model that explains and predicts health behaviors by focusing on the attitudes and beliefs of individuals.

Actual Barriers

Real or tangible obstacles that prevent individuals from achieving their goals or accessing services.

Objective Vulnerability

The measurable risk factors or conditions that increase an individual's susceptibility to harm or negative outcomes.

Patient Adherence

The extent to which patients follow their healthcare providers’ advice and instructions, including taking medications correctly and adhering to recommended lifestyle changes.