When the Market Does Not Result in an Efficient Allocation

question 234

Multiple Choice

When the market does not result in an efficient allocation of scarce resources, economists say there has been _.

• A)market dropout.
• B)normative economics.
• C)market disincentives.
• D)market failure.

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Definitions:

Intelligence

The capacity to learn, understand, and apply knowledge, solve problems, and adapt to new situations.

SES

Short for Socioeconomic Status, a measure of an individual's or family's economic and social position relative to others, based on income, education, and occupation.

Whole Number Skills

The ability to use and understand integers (positive, negative, and zero) in arithmetic operations.

Metamemory

The awareness and understanding of one's own memory processes.