__________ Exist(s) When There Is a Need in the Market

question 101

Multiple Choice

__________ exist(s) when there is a need in the market that can be satisfied by new goods or services.

• A) Potentiality
• B) Market readiness
• C) Entrepreneurial opportunities
• D) Critical core competencies

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Definitions:

Voter Failure

A situation where voters make an uninformed or poor choice, often due to lack of information or misleading information, that does not align with their interests.

Negative Externalities

Costs or disadvantages suffered by a third party due to an economic transaction that they are not directly involved in.

Economic Efficiency

A state in which resources are allocated in a way that maximizes the production of goods and services at the least cost and minimum waste.

Congestion

A state of overcrowding in a space or area, often leading to traffic jams, delayed services, or inefficiency.