When the Market Does Not Result in an Efficient Allocation

question 91

Multiple Choice

When the market does not result in an efficient allocation of scarce resources, economists call this:

• A) market dropout.
• B) normative economics.
• C) market disincentives.
• D) market failure.

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Definitions:

Distinctive Guise

A unique appearance of a product or packaging that signifies exclusive source, identity or origin, typically relevant in trademark law.

Certification Mark

A mark used by a certified organization to indicate that products or services meet a certain standard of quality or performance.

Registered

Officially listed or entered on a record or registry for recognition, control, or protection purposes.

Written Employee Contract

A formal agreement between an employer and an employee that explicitly states the terms of employment, including duties, compensation, and conditions of work.