A Free Market Fails When

question 130

Multiple Choice

A free market fails when

• A)there is government intervention.
• B)there is an external effect in either production, consumption, or both.
• C)firms that produce goods which create positive externalities go bankrupt.
• D)firms that produce goods which create negative externalities earn high profits.

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Definitions:

Generally Accepted Standard

Generally Accepted Standard refers to a principle, norm, or criterion that is widely recognized and accepted in a particular field or industry.

Sequence Codes

Codes arranged in a specific order to signify a sequence of operations or instructions, often used in programming or data processing.

Chronology Of Events

The sequential order in which past events occurred, typically presented in a timeline format.

CPT

Current Procedural Terminology, a set of codes used by healthcare providers to document and bill for procedures and services.