Reasons for Market Failure Include

question 273

Multiple Choice

Reasons for market failure include

• A) common property resources.
• B) public goods.
• C) products or services that create externalities.
• D) All of these are reasons for market failure.

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Definitions:

Entitlement

A government program guaranteeing access to benefits by members of a specific group and based on established rights or by legislation.

Policy Feedback

The process by which existing policies influence future political behavior, public attitudes, and policy formulations.

Elite Democratic

A form of democracy that emphasizes the role of elected representatives or elites in making major decisions, rather than direct participation by the general populace.

Economic Policies

Government actions intended to influence the economy of a nation, including taxation, spending, and the control of money supply.