While Economists Generally Agree That Markets Are a Good Way

question 185

Multiple Choice

While economists generally agree that markets are a good way to organise economic behaviour, there are some important exceptions.The exceptions include:

• A)some markets produce negative externalities
• B)some industries produce positive externalities
• C)some markets are characterised by market failure
• D)all of the above are true

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Definitions:

P(X = 2)

A notation used in probability to denote the probability that a random variable X equals the value 2.

Remedial Program

Educational programs designed to improve skills in specific areas where students are deficient.

Sports Fans

Individuals who exhibit enthusiasm and devotion towards a particular sport, team, or athlete.

College Students

Individuals enrolled in an institution of higher learning with the aim of achieving a degree, diploma, or certification.