In Economics, the Concept of Market Failure Refers to

question 9

Multiple Choice

In economics, the concept of market failure refers to

• A) the failure of unregulated markets to offer the lowest possible prices
• B) a situation where unregulated markets fail to offer efficient and equitable results
• C) a lack of equilibrium
• D) demand curves that have no slope

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Definitions:

Endo-

A prefix meaning within or inside, used in medical and scientific terms to denote inner structures or conditions.

Inter-

A prefix meaning 'between' or 'among'.

Ex-

A prefix often denoting out of, from, or not having something.

Retro-

A prefix used in English, denoting backwardness, previousness, or action in a reverse direction.