If There Is Only One Provider of Electricity in a City

question 310

Multiple Choice

If there is only one provider of electricity in a city, that market is likely to fail due to

• A) public ownership of resources.
• B) external benefits.
• C) lack of competition.
• D) asymmetric information.

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Definitions:

Skilled Workers

Individuals who have received specialized training, education, or experience that allows them to perform specific tasks or jobs.

Global Economy

The interconnected marketplace where goods, services, and labor are exchanged across worldwide platforms, transcending national borders.

Low-Cost Labor

Employment that is compensated at a low wage rate, often within industries or regions where labor rights are minimal or not rigorously enforced.

Capitalism

An economic system characterized by private or corporate ownership of goods and services, where production and consumption are driven by market forces and profit motive.