Market Power and Externalities Are Examples of Market Failures

question 55

True/False

Market power and externalities are examples of market failures.

---

Definitions:

Coordination

The ability to use different parts of the body together smoothly and efficiently.

Central Nervous

Often referred to as the central nervous system, it includes the brain and spinal cord, responsible for processing and sending out signals to the rest of the body.

Spinal Cord

The long, thin, tubular structure made up of nervous tissue that extends from the brain, encased within the spine, facilitating communication between the brain and the rest of the body.

Cerebellum

The cerebellum is a section of the brain located at the back and lower part of the skull which coordinates voluntary movements, maintains posture, and balances.