An Example of a Market Failure Is

question 214

Multiple Choice

An example of a market failure is

• A)a firm is dumping toxic waste that is making people sick.
• B)when not everyone who wants to see a major league football game can.
• C)when there is an increase in demand and a shortage develops.
• D)unemployment.

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Definitions:

Internal Slave Trade

refers to the buying and selling of slaves within the domestic borders of a country, particularly prevalent in the United States before the Civil War.

Plantation Work

Labor performed on large agricultural estates, historically associated with slavery and the cultivation of cash crops such as tobacco, cotton, and sugar.

Fugitive Slave Act

The Fugitive Slave Act was a law passed by the United States Congress in 1850 to provide for the return of slaves who escaped from one state into another state or territory.

American Colonization Society

An organization established in the early 19th century aimed at resettling free African-Americans to Africa; Liberia was a significant colony established by this society.