Asked by
Abram Shaffer
on Oct 08, 2024
Verified
Factors that impede the attainment of economic efficiency in the public sector are called:
A) market failures.
B) externalities.
C) government failures.
D) voting irregularities.
Economic Efficiency
The optimal distribution of resources in society, taking into account all benefits and costs.
Government Failures
Occur when government intervention in the economy leads to inefficiencies, misallocation of resources, or negative outcomes contrary to the intended goals.
Market Failures
Situations where the allocation of goods and services by a free market is not efficient, often justifying government intervention.
- Gain an understanding of the principles behind government ineffectiveness, its triggers, and the outcomes it leads to.
Verified Answer
JD
Learning Objectives
- Gain an understanding of the principles behind government ineffectiveness, its triggers, and the outcomes it leads to.