When the Market Does Not Result in an Efficient Allocation

question 91

Multiple Choice

When the market does not result in an efficient allocation of scarce resources, economists call this:

• A) market dropout.
• B) normative economics.
• C) market disincentives.
• D) market failure.

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Definitions:

Bullied at Work

Experiencing repeated, negative actions from colleagues or superiors in the workplace, which can include verbal, social, or physical abuse.

Gender Disparity

Refers to the difference in treatment or outcomes between genders, often resulting in disparities in opportunities, wages, and social status.

Social Discounting Bias

A cognitive bias where people undervalue the benefits or harms of their actions on others who are socially distant.

Defense Mechanism

Psychological strategies employed by individuals to cope with reality and maintain self-image by unconsciously denying or distorting reality.