It should be noted that the inefficient allocation if resources is market failure.
<h3>What is market failure? </h3>
It should be noted that market failure simply means the inefficient distribution of goods and services.
Market failure is the the inability of a market to bring about the allocation of resources that best satisfies the wants of society.
Learn more about market failure on:
brainly.com/question/368647
I think i read the question right. I think they would be out $198
Explanation:
https://www.entrepreneur.com › ...
Web results
How to Research Your Business Idea - Entrepreneur.com
Scarcity refers to a state of being in short supply.
Scarcity exists because distribution of resources is unequal. Majority of the people tend to get more than they need in preparation for future uses. They did not take into consideration that other people also need the items they have stocked up on. This results to unequal distribution of resources. Those who had first access to the goods have more than they need while those who came last have goods that is not enough to sustain their needs. They are the ones experiencing scarcity.
