Economists Suggest That a Market Can Fail If

question 154

Multiple Choice

Economists suggest that a market can fail if

• A)consumers have to pay more than they want to.
• B)no market for the product exists.
• C)producers get smaller profits than they desire.
• D)governments dictate prices.

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Definitions:

Employee Selection

The process of identifying and hiring the most suitable candidates for positions within an organization based on criteria and assessments.

Current Employees

Individuals who are actively employed and working for an organization at the present time.

80 Percent Rule

A guideline in human resources indicating a test is considered to have adverse impact if the selection rate for a minority group is less than 80% of the rate for the group with the highest selection rate.

Adverse Impact

The unintended and negative effects of a company's policies, practices, or procedures on certain groups of employees or potential employees.