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Describe at least three reasons why market failure occurs.
Respondents
Individuals who answer or respond to surveys, questionnaires, or interviews as part of data collection efforts.
Vague Language
Vague language consists of words or expressions that are not precise or clear, often leading to ambiguity or misinterpretation in communication.
Flexible Interpretation
An approach that allows for adaptability and multiple perspectives in understanding or analysing texts, situations, or data.
Personal Observation
Direct witnessing or monitoring of events, behaviors, or activities, used as a basis for drawing conclusions or gathering data.
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