<u>Because the </u><u>equilibrium quality </u><u>chosen by the market would be lower than the level that most people would consider desirable, the quantity of public college education determined in a free market (without government intervention) is a</u><u> market failure.</u>
How does government intervention lead to a collapse of the market?
- Lack of information, market regulation, public goods, and externalities can all contribute to market failure.
- Government intervention, such as new laws, taxes, tariffs, subsidies, and trade restrictions, can be used to fix market failures.
How does the market for education fail?
- Due to systematic undervaluation of the roles of motivation and engagement by educational policy, there is a significant market failure in the context of education.
- Lack of metrics for those qualities and ignorance of their potential usefulness serve as examples of this undervaluation.
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Answer:
A technological advance makes it possible to produce more of good X with less labor. As a result, labor is released from producing good X. Some of this labor ends up producing goods Y and Z.
Explanation:
Trade barriers. There are no barriers blocking them from trade.
This is an example of marketing behavior that would occur during the Sales era of U.S. business history.
Explanation:
Over the years, the principle of marketing has changed and constantly changes. Commercialisation has ostensibly developed through both classical and modern stages.
The era of rivalry was the era of sales. Companies can not market their mass produced goods easily anymore. The selling of products to consumers was becoming increasingly difficult for businesses. In this age, we see the marketing phenomenon as it emerges today. Companies had to encouraging and educating customers to sell products vigorously.
In these days, marketing is viewed in the United States, including the manufacturing period, the distribution age, the selling age and promotion, and is also a large functional field of the business.
