Economists Suggest That a Market Can Fail If

question 3

Multiple Choice

Economists suggest that a market can fail if

• A)consumers have to pay more than they want to.
• B)producers get smaller profits than they desire.
• C)the good or service is such that consumers are unable to make well-informed decisions about its consumption.
• D)governments dictate prices.

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Definitions:

Union Activism

Efforts by union members and leaders to promote and defend workers' rights, including organizing, protesting, and engaging in political actions.

Investigatory Functions

Refers to the processes and actions involved in examining, researching, or inquiring into specific matters or cases, especially within a legal, scientific, or academic context.

Prosecution Functions

The duties and responsibilities of legal authorities in pursuing legal action against individuals or entities suspected of committing crimes.

NLRB

stands for the National Labor Relations Board, a U.S. federal agency that enforces labor law in relation to collective bargaining and unfair labor practices.