Market failures are associated with allocative resource efficiency. This is an explanation in classical microeconomic theory to explain situations of exception when private enterprise in a free market system does not allocate resources to the best of its ability. Recalling that by classical microeconomic theory, it is private initiative that allocates resources in the best way, so that the government acts only as a regulator. Thus, private initiative would be able to produce and market goods and services at the lowest cost, that is, more efficiently than if the government acted in the market.
The reason for market success or failure in liberal economies is the prospect of profit. Building apartment buildings is highly profitable, so market parameters work perfectly. Construction firms will strive to build apartments that are appealing to consumers at the lowest possible cost and thus make a profit. However, building a bridge under a river does not bring a prospect of profit, except in the case of toll bridge privatization. It is an infrastructure work necessary to facilitate the transportation of products and people. Therefore, in this case, there is no efficient allocation of resources by the market as there is no prospect of profit. This is the market failure. In this case, it is the government that acts in the construction of the bridge, in order to solve the market failure.
Answer: The answer would be B- The Social Security Act.
Life in Roman republic came with more rights that were curbed in the empire.
Explanation:
One must understand that there was a strict hierarchy in place in the Roman society and one's place in that hierarchy determined if they were privileged or not.
The patricians enjoyed greater comforts in the republic because of their sphere of influence but that was curbed when the Emperor took over and they could have their life in balance if they went against the Emperor.
The rest of the people meanwhile had much the same life and then even some of them had a way to climb the social ladder as the patrician class was weakened by the ascension.
Answer:
im not sure. but i do know that you should google it or reread the text!
Explanation:
