A Market Failure Arises When an Entire Sector of the Economy

question 128

True/False

A market failure arises when an entire sector of the economy (for example, the airline industry)collapses because of some unforeseen event.

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Definitions:

P2P

Short for peer-to-peer, a decentralized communications model in which each party has the same capabilities and either party can initiate a communication session.

Service Companies

Businesses that provide intangible products, such as expertise, experience, and activities, to consumers or other businesses in exchange for payment.

Venmo

A mobile payment service that allows users to transfer money to one another, typically using a mobile phone app.

PayPal

An online payment platform that enables users to make financial transactions and payments over the internet easily and securely.