Freely Functioning Markets in the Real World Always Result in Efficient

question 193

True/False

Freely functioning markets in the real world always result in efficient allocations of resources.

---

Definitions:

Subject Matter Jurisdiction

The jurisdiction of a court to preside over certain types of cases or those concerning specific topics.

Stare Decisis

A legal doctrine that obligates courts to follow historical cases when making a ruling on a similar case, ensuring legal consistency over time.

Peremptory Challenge

During jury selection, attorneys are given the privilege to dismiss a specified number of would-be jurors with no need to explain their reasoning.

Challenge for Cause

A procedure during jury selection allowing attorneys to exclude a potential juror if they can prove the juror's bias or inability to serve impartially.