The Term Used to Describe a Situation in Which Markets

question 126

Multiple Choice

The term used to describe a situation in which markets fail to allocate resources efficiently is called

• A)economic meltdown.
• B)market failure.
• C)disequilibrium.
• D)the effect of the invisible hand.

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Definitions:

Deducted

Subtracted from a total amount, usually referring to amounts removed from income or expenses for the purpose of calculation.

Sued

The act of bringing a lawsuit against an individual or entity, claiming that they committed a wrong or injustice that should be remedied through legal action.

Evict Tenant

To evict a tenant means to legally remove a tenant from a rental property, typically due to violation of a rental agreement or non-payment of rent.

Prescribed Procedure

A set method or course of action dictated by rules or regulations that is meant to be followed in specific situations.