A situation in which the market system allocates too few resources to the production of a given activity is known as
A) market allocation.
B) market failure.
C) market efficiency.
D) market signaling.
Answer: B
Economics
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Which of the following is an example of capital?
A) a gravel truck B) a savings account C) a share of General Motors stock D) a lake
Economics
If firms in a perfectly competitive industry produce an undifferentiated product, it is not possible to increase profits of the individual firms in the industry by increasing market demand for the product because of the large number of available
substitutes. Indicate whether the statement is true or false
Economics