Market Power and Externalities Are Examples of Market Failures

question 55

True/False

Market power and externalities are examples of market failures.

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Definitions:

Tainos

Indigenous peoples of the Caribbean, the first Native Americans to encounter Christopher Columbus and his men upon their arrival in the New World.

Lucrative Relations

Relationships, either between countries or businesses, that are highly profitable and beneficial to the parties involved.

Civilization

A complex society characterized by the development of forms of government, social stratification, urbanization, and symbolic systems of communication such as writing.