<u>The situations of market inefficiency are the following</u>
- Consumers wait in line to buy a sale television because the first to come is the first served.
- Consumers gain access to goods through a lottery or wining a contest.
In both situations there is an excess of demand (shortage of offer) beacuse the marketa are inefficient in terms of allocating the goods and services to all the consumers that are demanding them. Rationing mechanisms have to be implemented instead, operating under specific sets of rules such as: "first come, first served", or through the organization of a lottery.
<u>The other two situations do not reflect market inefficiency</u>
- Consumers compete for wages in a free market economy.
Markets are freely functioning and it does not mentioned any disequilibrium situation that involves inefficiencies.
- Consumers all agree and decide to produce certain products they need and want.
A group of consumers decides to become producers and perform the economic roles of this economic agent. This is the everyday life in markets.
Answer:
a competition between nations for superiority in the development and accumulation of weapons, especially between the US and the former Soviet Union during the Cold War.
The split of democratic party in 1920 was driven by various cultural issues, one of the biggest issue was whether they should prohibit the Ku Klux Klan. This conflict create a massive divide in votes within the democratic party, which opened up a huge path of the Republican party to seize victory in the presidential election.
brainliest please
Answer:
C. It was unfair to tax the colonists since they were not represented in the British Parliament.
Explanation:
The phrase taxation without representation describes a populace that is required to pay taxes to a government authority without having any say in that government's policies. The term has its origin in a slogan of the American colonials against their British rulers: "Taxation without representation is tyranny."1
