Which of the Following Branches of Government MUST Exist in All

question 20

Multiple Choice

Which of the following branches of government MUST exist in all modern states?

• A)the executive
• B)the legislative
• C)the judiciary
• D)all of the above

---

Definitions:

Supply-Side Market Failure

Situations where the production or supply of a good or service leads to insufficient or excessive production, often due to externalities or lack of competition.

Demand-Side Market Failure

Demand-side market failure occurs when demand curves do not reflect consumers' full willingness to pay for a good or service, often due to externalities or public goods.

Government Failure

Occurs when government intervention in the economy creates inefficiency, leading to an allocation of resources that worsens rather than improves outcomes.

Consumer Surplus

The difference between the maximum amount consumers are willing to pay for a good or service and the actual price they pay, measuring the benefit consumers receive from purchasing at a lower price.