Bench trial is when you pay for the consequences and jury trial is when your speaking of the situation and they would have to choose a consequence
Answer:
1) When there is only one car dealership in a small town, giving the dealership the ability to influence the price of cars, market failure is due to <u>MARKET POWER.
</u>
2) When a manufacturing plant dumps chemical waste into a nearby river, poisoning the water supply for a small town downstream, market failure is due to <u>EXTERNALITY.</u>
Explanation:
The car dealership has an excessive market power
, which refers to the firms ability to increase the price of its products (cars) above the price of a competitive market.
When the manufacturing plant dumps chemical wastes into the river, it is causing a negative externality on the town's water supply. This means that the town (which is a third party in this case) is suffering from the actions of another party's economic transactions.
Ans. The problem is related to the technology used in the production of cars. When you are in a competitive car industry, there will always be issues
Answer:
d. globalization
Explanation:
-Industrialization is the process of transforming an economy to focus on the manufacturing activity.
-Neoliberalization is a process that has the goal of transfering control of the economic factors to the private sector and it involves: free market trade and fewer regulations in the financial markets.
-Migration refers to the movement of people from one place to another one to work and live.
-Globalization is the process in which technology, information, people, jobs are shared through borders and it has generated more integration between people and cultures around the world.
According to this, the process that has intensified the exchange and diffusion of people, ideas, and goods worldwide, creating more interaction and engagement among cultures is globalization.
