Explain Why a Government May Select an Inefficient Allocation

question 11

Essay

Explain why a government may select an inefficient allocation.

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Definitions:

Sequential Series

A sequence of events or items arranged in a consecutive order.

Purchase Satisfaction

Gratification based on a product that supplies expected, or greater than expected, benefits.

Endless Chain Referral

A method in sales where a customer is asked to provide the names of other potential customers, creating a "chain" of referrals that can potentially lead to endless opportunities.

Prospecting

The process of searching for potential customers or clients to generate new business opportunities.