Multiple Choice
When the market system does not generate the optimal, or efficient, allocation of goods and services a ___________________ occurs.
A) public good
B) private good
C) market instability
D) market failure
Correct Answer:

Verified
Correct Answer:
Verified
Q14: When a resource has no direct price<br>A)overuse
Q15: A system of pollution reduction that allows
Q16: A negative externality occurs when<br>A)costs of production
Q17: Marginal costs born only by the producer
Q18: A negative to the command-and-control approaches to
Q20: Pollution is defined as<br>A)the contamination of the
Q21: The main cause of pollution since the
Q22: Under cap and trade systems<br>A)an upper limit
Q23: Marginal costs that are born by society
Q24: Collectively owned resources are known as<br>A)ITQs.<br>B)tradable pollution