Economists Suggest That a Market Can Fail If

question 101

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)governments dictate prices.
• D)the buyer or seller exerts significant power such that they can dictate price.

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Definitions:

Government Board

A group of appointed or elected members who oversee the activities of a public or governmental organization.

Protocols

Established sets of rules and procedures for conducting scientific experiments, medical treatments, or communications between devices in a network.

Research

The systematic investigation into and study of materials and sources to establish facts and reach new conclusions.

Diagnostic Criteria

A standardized set of guidelines that are used to identify and classify diseases and disorders.