Markets Fail to Allocate Resources Efficiently When

question 159

Multiple Choice

Markets fail to allocate resources efficiently when

• A) prices fluctuate.
• B) people who have property rights abuse their privileges.
• C) property rights are not well established.
• D) the government refuses to intervene in private markets.

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Definitions:

Billion Years Ago

A time scale used to describe events and processes that occurred a billion or more years ago in Earth's history.

Burgess Shale

A Lagerstätte in Canada in which there is a wealth of preserved fossils from the Cambrian period.

Lagerstätte

Lagerstätte (plural, Lagerstätten) is a site with an abundant supply of unusually well-preserved fossils — often including soft tissues — from the same period of time.

Cambrian

A geological time period occurring approximately 541 million years ago, notable for the Cambrian Explosion, a significant increase in the diversity of life on Earth.