What Does the Term "Market Failure" Refer To

question 15

Multiple Choice

What does the term "market failure" refer to?

• A) a situation in which the market on its own fails to allocate resources efficiently
• B) an unsuccessful advertising campaign that reduces consumer demand
• C) a situation in which competition among firms leads to bankruptcies
• D) a firm that is forced out of business because of new by-laws

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Definitions:

Moderately

To a certain extent but not excessively; within reasonable limits.

Social Deviants

Individuals who act or behave in ways that violate societal norms, making them stand out or be labeled as different by others.

Get High

A colloquial term for the experience of intoxication or altered state induced by drug use.

Illegal Drug

A substance whose production, sale, or possession is prohibited by law due to its potential for abuse and harm.