Examlex
_________________ ________________ create a power imbalance by giving everyone more right than they give themselves, and __________ ________ create an imbalance by giving themselves more rights than others.
Market Failure
A situation in which market forces, such as supply and demand, fail to allocate resources efficiently, often justifying government intervention.
Pareto Efficiency
A situation where resources are distributed in such a way that improving the condition of any one individual or meeting a preference more fully would result in detriment to at least one other individual or preference.
Socially Efficient
A situation where resources are allocated in the most effective manner, maximizing overall social welfare.
Overestimates
Assessments or calculations that exceed the actual value or amount of something.
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