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The Term Used to Describe a Situation in Which Markets

question 161

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The term used to describe a situation in which markets do not allocate resources efficiently is


Definitions:

Savannas

Grassland ecosystems with scattered trees, found in regions that receive a moderate amount of annual rainfall, typically bordering deserts or tropical rainforests.

Convergent Evolution

The process whereby organisms not closely related independently evolve similar traits as a result of having to adapt to similar environments or ecological niches.

Coevolved Traits

Traits in different species that have evolved mutually through the process of biological interaction, such as predator/prey or parasitic relationships.

Biomes

Large community of plants and animals that occupies a distinct region defined by its climate, flora, and fauna.

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