Markets Can Be Missing

question 128

Multiple Choice

Markets can be missing:

• A) because public policy prevents the market from existing.
• B) when the production of a particular good is banned.
• C) because of a lack of accurate information between potential buyers and sellers.
• D) All of these are true.

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Definitions:

Sells Goods

Describes the action or process where a business entity offers physical products to consumers in exchange for payment.

Retailer

A business that sells goods directly to consumers, typically in small quantities.

Net Income

The total earnings or profit of a company after subtracting all expenses, including taxes and operating expenses, from its total revenue.

Gross Profit

Revenue minus the cost of goods sold, indicating the efficiency of a company in managing its labor and supplies in producing goods.