Examlex
Remembering how to get to class every day although you cannot state the room number or the name of the building is an example of:
Unemployment
A situation where individuals who are able and willing to work are not able to find employment.
Efficient Allocations
The optimal distribution of resources among competing uses to achieve the highest overall level of welfare or utility.
Market Failures
Situations where the allocation of goods and services by a free market is not efficient, often leading to a net social welfare loss.
Government Intervention
Actions taken by a government to affect or interfere in an economy or market, usually in the interest of public welfare or economic stability.
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