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Brrunno [24]
3 years ago
9

What is the term for when businesses produce goods and services that consumers do not want​

Business
1 answer:
tino4ka555 [31]3 years ago
4 0

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.

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If the expected inflation rate is 4 percent and the nominal interest rate is 9 percent, the expected real interest rate is _____
goldenfox [79]

The real interest rate is simply nominal interest rate less the inflation rate. In equation form this is equivalent to:

Real interest rate = Nominal rate – Inflation Rate

Real interest rate = 9% - 4%

Real interest rate = 5%

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7 0
3 years ago
The goals of labor unions differ from those of management because employers want more profits and labor wants: Multiple choice q
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The goals of labor are such that they want better pay and working conditions.

<h3>The ultimate goal of workers/labor</h3>

A business is in operation to make a profit, likewise, labor or workers work to the end of being paid for the services rendered.

In addition to good pay, labor also requires good perks like health cover, safe and secure work conditions, and the environment.

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8 0
2 years ago
After Hurricane Katrina there was considerable public outrage that many of the properties were not insured against flooding alth
STALIN [3.7K]

Answer:

A. the risk of wind damage is potentially diversifiable, but the risk of flooding is not

Explanation:

Based on the scenario being described it can be said that the best explanation for these different approaches would be that the risk of wind damage is potentially diversifiable, but the risk of flooding is not. Meaning that  most insurance companies cover wind damage because it is most likely during a hurricane but flooding may be a unique situation which is not always covered by most insurance companies/policies.

7 0
3 years ago
A younger client with a moderate amount of funds is considering the purchase of a home in the near-term future. For this reason,
Valentin [98]

Answer:

c) Investment in a DPP (Direct Participation Program)

Explanation:

Direct Participation Programs are a form of limited partnership. DPP has the lack of liquidity, since ownership interests are not always freely transferrable and require the approval of a general partner of the DPP. Each of the other items listed are more liquid on a short-term basis. Bonds can be sold, bond fund shares can be redeemed, equities are easily sold in the secondary market, and though CDs are not transferrable, the maximum maturity is 1 year or less, so the client would have short-term access to the funds invested.

8 0
3 years ago
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The unique symbols, personalities, and philosophies that support all corporate activities including strategic planning and marke
anzhelika [568]

Answer:

a) Corporate identify

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Corporate identity is related to a set of duties of an organization that differs from others. It's the corporate culture, values, goals, plans and strategies, it's the raison d'être of any company, regardless of its size or area of ​​expertise. Through corporate identity it is possible for stakeholders to identify the company, recognize its posture and values ​​in the market. It is important that the corporate identity is well established and spread by all sectors and employees, because through it, the company proves its relevance, reputation and differentiation in the market.

6 0
3 years ago
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