Examlex
Upper Paleolithic cave art is often found in very obscure and difficult to access places such as the deepest recesses of caves, strongly suggesting a connection between the art and religious ritual.
Government Failure
Occurs when government intervention in the economy causes inefficiencies or leads to an allocation of resources that does not maximize societal welfare.
Market Failure
A situation in which the allocation of goods and services by a free market is not efficient, often leading to a net social welfare loss.
Externality
A consequence of an economic activity experienced by unrelated third parties; can be either positive or negative.
Resource Dependency
A theory in organizational studies that describes how external resources dictate the behaviors and strategies of organizations.
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