Which of the Following Is a Good Example of Market

question 116

Multiple Choice

Which of the following is a good example of market failure?  

• A) gas prices 
• B) taxes on gasoline 
• C) pollution 
• D) employment insurance

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Definitions:

Breach of Contract

occurs when one party fails to fulfill their obligations under a contract, allowing the other party to seek legal remedies.

Written Contract

is an agreement between two or more parties that has been expressed in written form and is legally enforceable.

Kitchen Cabinets

Built-in furniture found in a kitchen, used for food storage, cooking equipment, and often silverware and dishes for table service.

Nonconforming Goods

Goods that are not the same as those called for under a contract or that are in some way defective.