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.
Answer:
Which is a correct statement regarding sandwich prices, based on the histogram? The distribution of sandwich prices is skewed left.
i hope this helps<3 :)
The Bretton woods system of exchange rates relied on <u>"fixed or pegged exchange rates, with occasional orderly adjustments to the rates."</u>
The Bretton Woods arrangement of money related administration built up the rules for business and monetary relations among the United States, Canada, Western Europe, Australia, and Japan after the 1944 Bretton Woods Agreement. The Bretton Woods framework was the principal case of a completely arranged financial request expected to administer money related relations among free states. The central highlights of the Bretton Woods framework were a commitment for every nation to embrace a fiscal approach that kept up its outer trade rates inside 1 percent by binds its money to gold and the capacity of the IMF to connect transitory uneven characters of installments. Likewise, there was a need to address the trouble among different nations and to anticipate focused depreciation of the monetary forms also.
Answer: The correct answer is : they have been insured against misappropriation of assets.
Explanation: The employee relationship is an agreement, of fidelity, in which the insurance company guarantees the payment of a defined sum in the event that the employee who is covered by the insurance, causes financial losses to the employer.
