The term market failure refers to a. a situation in which the market on its own fails to allocate resources efficiently. b. an unsuccessful advertising campaign which reduces demand for a product. c. a situation in which competition among firms becomes ruthless. d. a firm that is forced out of business because of losses.

Related Questions

• Suppose that an economy, producing at point A on a production possibilities frontier, produces 450 units of good X and 200 units of good Y. Also suppose that, with the same resources and technology, the economy could produce at point B, which represents 650 units of good X and 500 units of good Y?
• When the government imposes a binding price floor, it causes ___________.a. the supply curve to shift to the left. b. the demand curve to shift to the right. c. a shortage of the good to develop. d. a surplus of the good to develop.
• Which of the following scenarios would cause inflation to occur?
• Why do single firms in perfectly competitive markets face horizontal demand​ curves?
• Osborn Company's unadjusted book balance at June 30, 2014 is $7,800. The company's bank statement reveals bank service charges of $45. Two credit memos are included in the bank statement: one for $900 which represents a collection of an account receivable that the bank made for Osborn and one for $10 which represents the amount of interest that Osborn had earned on its interest-bearing checking account in June. Based on this information, Osborn's true cash balance is: A. $7,800. B. $8,705. C. $8,665. D. $8,795.
• Which of the following is a problem surrounding executive compensation? Select one: a. Little or no relationship seems to exist between the performance of an organization and the compensation paid to its senior executives. b. Most senior executives are exempted from the perquisites provided by an organization to its employees. c. Executive compensation in the United States is far lower than that paid to senior executives in other countries. d. Executive compensation only involves incentive pay, which is based on the years of service in an organization and commission from the clients brought to it.
• what would happen to the buying power of your investment after one year if your rate of return was 8% and the rate of inflation was 3%?
• Arturo is a partner in a firm that specializes in producing vitamins and health food products. While the business is considered small by U.S. standards, he is attempting to persuade his partner to expand internationally. Arturo would list which of the following as an advantage of going global? A. Exporting can help sell excess inventory. B. Financing can easily be obtained to expand internationally. C. Marketing programs benefit from the cultural similarities in prospective markets. D. Selling your products in other markets reduces their life cycle, making them more attractive.
• 10. A student who is interested in becoming an air traffic controller will make.. A.) more money than an athletic trainer but will have a harder time finding a job. B.) more money than an athletic trainer and will have an easier time finding a job. C.) less money than an athletic trainer but will have an easier time finding a job. D.) less money than an athletic trainer and will have a harder time finding a job This table compares the requirements for a career as an athletic trainer or an air traffic controller.
• Janitor supply produces an industrial cleaning powder that requires 27 grams of material at $0.20 per gram and 0.35 direct labor hours at $15.00 per hour. overhead is applied at the rate of $14 per direct labor hour. what is the total standard cost for one unit of product that would appear on a standard cost card?