Market Failure Is the Inability of

question 390

Multiple Choice

Market failure is the inability of

• A)buyers to interact harmoniously with sellers in the market.
• B)a market to establish an equilibrium price.
• C)buyers to place a value on the good or service.
• D)some unregulated markets to allocate resources efficiently.

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Definitions:

Experience

The knowledge or skill acquired by a period of practical involvement in an activity or exposure to events.

Norms of Development

Standard or typical patterns of physical, emotional, or intellectual growth and development.

Labor Force

The total number of people, including both the employed and the unemployed, who are actively seeking and available for work.

Separation Anxiety

A disorder characterized by excessive fear or anxiety about being apart from attachment figures or familiar home environments.