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Give Several Examples of Market Failure

question 49

Essay

Give several examples of market failure.Discuss what, if any, corrective action could reduce such problems.


Definitions:

Qualitative Analysis

In microbiology, identification of bacteria present in a specimen by the appearance of colonies grown on a culture plate.

Substances

Materials or compounds that have a distinct physical presence and chemical composition.

Resident Normal Flora

Bacteria, fungi, and protozoa that have taken up residence either in or on the human body. Some of these organisms neither help nor harm the host and some are beneficial, creating a barrier against pathogens.

Pathogenic

Capable of causing disease when introduced into the body.

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