Answer:
Productive (technical) inefficiency.
Explanation:
A market failure can be defined as a situation in which the market fails to produce an efficient level of productivity or output that is required to meet consumer demand.
This ultimately implies that, a market failure arises when there is inefficiency in the distribution or allocation of goods and services in a free market.
In Economics, there are two types of inefficiency associated with the production of goods and services, these includes;
1. Allocative inefficiency: it occurs when businesses do not maximise output from the given inputs. Thus, it arises when businesses fail to increase the level of their production or productivity from a number of given inputs.
In conclusion, allocative inefficiency typically occurs when the price of a good or service isn't equal to its marginal cost i.e P ≠ MC.
2. Productive (technical) inefficiency: it occurs when businesses produce goods and services that consumers do not want. This is typically as a result of the incorrect and inefficient allocation of scarce resources by a business firm or entity.
The true statement is <em>D. When </em><em>BCA</em><em> is negative, it implies that government </em><em>budget deficits</em><em> and/or part of </em><em>domestic investment </em><em>are being financed with </em><em>foreign-controlled capital</em><em>.</em>
The above statement is based on the intimate relationship between a country's Balance of the Current Account (BCA) and how the country finances its domestic investments and pays for government expenditure.
Explanation:
National income = Y = GNP
Consumption = C
Private Investment = I
Government spending = G
Exports = X
Imports = M
Taxes = T
Therefore, the BCA = X-M = (S-1) + (T – G)
Where BCA = Balance of Current Account
Thus, the Balance of the Current Account (BCA) should be <u>positive</u> to avoid deficit-financing of government budgets.
Learn more: brainly.com/question/8859561
One can display good customer service by having a professional appearance while attending to customers.
<h3>What is customer service?</h3>
Customer service is a process of ensuring that customers are well catered for when delivering services to them.
Characteristics of a good customer service are:
- Promptness
- Politeness
- Professionalism
Hence, one can display good customer service by having a professional appearance while attending to customers.
Learn more about customer service here : brainly.com/question/1286522
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