________ is a pay system that rewards employees for the proficiencies and competencies they can demonstrate.

"Market failure" refers to that _______.

A. a stock market crashes to harm shareholders' investments B. a market is not competitive to generate an equilibrium price C. a market lacks necessary infrastructure to facilitate transactions D. none of the above

Nations following the theory of ________ believed that the world's wealth was limited and that a nation could increase its share of the pie only at the expense of its neighbors

A) absolute advantage B) comparative advantage C) mercantilism D) factor proportions