A Situation in Which Free, Unregulated Markets Do Not Maximize

question 91

Multiple Choice

A situation in which free, unregulated markets do not maximize economic efficiency is called:

• A) a government failure.
• B) a market failure.
• C) an economic failure.
• D) a social failure.

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Definitions:

Experts

Individuals who possess extensive knowledge or skills in a particular area or field, often as a result of education, experience, or both.

Persuasive

Having the power to convince or influence someone's beliefs, attitudes, or actions through argument, reasoning, or appeal.

Trust Them

Refers to the belief in the reliability, truth, ability, or strength of someone or something.

Behaving

The action or reaction of an entity (often a living organism) in response to external or internal stimuli.