What Term Refers to a Situation in Which Markets Fail

question 218

Multiple Choice

What term refers to a situation in which markets fail to allocate resources efficiently?

• A) economic depression
• B) market failure
• C) corporate bankruptcy
• D) disequilibrium

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Definitions:

Warfare

The engagement in or the activities involved in war or conflict, including the use of armed forces and weaponry to achieve political or military objectives.

Prevailing Winds

Winds that blow predominantly from a single general direction over a particular point on the Earth's surface.

European Trade

The exchange of goods, services, and capital between countries within Europe, as well as between Europe and other parts of the world, which has historically played a significant role in the global economy.

English Settlement

The establishment of communities and colonies by English explorers and settlers in various parts of the world, particularly in North America, during the late 16th to early 18th centuries.