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Discuss the difference between assimilation and cultural pluralism and the metaphors of the "melting pot" versus the "salad bowl." Which do you think best reflects culture in the United States? Why?
Government Intervention
Actions taken by a government to affect or interfere with market activities or uphold laws for economic or social outcomes.
Markets Fail
Occurs when a market economy does not efficiently allocate resources, leading to outcomes like monopolies, public goods issues, or externalities.
Efficient Allocation
The distribution of resources in a way that maximizes the net benefits to society or the economy.
Efficiency
A measure of how well resources are used to achieve a goal, minimizing waste.
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