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:
1. None of the above
2. All of the above
Explanation:
According to the path-goal theory of leadership, the level of involvement a manager utilizes should (1) be the same for all employees in the department, (2) be either low or high management involvement regardless of the circumstances, and (3) not be influenced by subordinates' expectations. Which statements are correct?
<u>NONE OF THE ABOVE</u>
<u>The Path-Goal theory of leadership stipulates that managers should adapt a leadership style that is employee oriented for the purpose of organizational goal achievement.
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This is an ability issue. When a manager's performance deteriorates because manager's ability has deteriorated. The steps to be taken will be in the order below:
(1) Determine if the resources are adequate,
(2) retrain the individual, and
(3) redesign the job.
<u>All of the above steps are correct in that order</u>
Development, Structure and powers of U.S constitution and Arizona constitution have a huge comparison.
<u>Explanation:
</u>
Unlike the United States Constitution, which was embraced in 1787, that wasn't until 1912 that perhaps the Arizona Constitution was accepted, leading to the creation of the 48 states
The common terms,' we the people' all constitutions begin with, but include many different things. After all, there were certain differences between one condition and another for a set of fifty.
The Arizona Constitution states that the legislature must be split into three parts-Legislative, Legislative and executive–which are not applicable to the United States Constitution
Many think of forms to deny or expel someone from office. They will enforce them in both Constitutions. All define the qualifications for their office if they would like to run for office. Another connection that I found was apparent but significant nonetheless.
They both mention the theme of religious liberty, one of the most valuable values in our society. Eventually, both inspire their lawmakers to negotiate with them.
Answer:
C. Land
Explanation:
Input is any commodity used in the manufacturing of other products. Factors of production are the inputs or resources used in the production of other goods and services. They include land, capital, labor, and entrepreneurship.
From the list provided, the only the factor of production is land. In economics, land refers to the fertile fields used in agricultural production. It also refers to space where commercial buildings, factories, and businesses are set up. Land also includes natural occurring resources and minerals such as oil, natural gas, and precious stones.
