1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Blababa [14]
3 years ago
13

Which of the following are inefficient markets? Select all that apply.

History
1 answer:
Naddik [55]3 years ago
7 0

<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.

You might be interested in
The loss of New York is Washington's_______ defeat.
SVEN [57.7K]
I’m not sure it sounds vague
4 0
3 years ago
What was the effect of the Allies' policy of appeasement toward the Nazi regime in Germany?
marusya05 [52]
The effect of the Allies' policy of appeasement toward the Nazi regime in Germany was that Germany continued to invade other countries and expanded it's empire.
6 0
3 years ago
Read 2 more answers
Which state briefly tried to have a government without a governer in the early united states?
S_A_V [24]

Answer: i think the answer is rhode island.

Explanation:

6 0
3 years ago
Read 2 more answers
Due to the leadership of Athens, Pericles had an important role in which organization?
Citrus2011 [14]

Answer: B. the Delian League

hope this helps

7 0
3 years ago
Is it true that enlightenment sought to justify the divine right of king
stepan [7]
Yes it’s true............
7 0
3 years ago
Other questions:
  • An invasion in 451<br> c.e. by the white huns began the collapse of the:
    15·1 answer
  • 17 years ago today the unspeakable events of 9/11 happened. At the time I was only a one year old so I had no idea what happened
    6·1 answer
  • What led earhart to buy her own plane
    7·1 answer
  • This piece is an example of _______________.
    11·2 answers
  • If not the government who controls politics in Columbia A.) army B.)Local police C.) USA D.) drug cartels
    13·1 answer
  • 3. Describe two different problems with early machine guns.<br> a.)<br> b.)
    11·1 answer
  • Why did the French believe that the Ohio River valley was their territory
    12·1 answer
  • What factors led to the decline of the Byzantine Empire and the fall of Constantinople?
    13·1 answer
  • What happened in 900s CE​
    11·1 answer
  • Which of the following did Martin Luther King, Jr. believe?
    6·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!