Asked by
Rishabh Kalia
on Dec 11, 2024
Verified
"Government failure" exists when political decision-makers choose actions that
A) seek efficient outcomes rather than fair outcomes.
B) seek fair outcomes rather than efficient outcomes.
C) conflict with efficient allocation of resources.
D) conflict with the outcome favored by the majority of voters.
Government Failure
Situations where government intervention in the economy creates inefficiencies or worsens outcomes.
Efficient Allocation
The optimal distribution of resources among competing entities to achieve the desired outcomes with minimal waste or inefficiency.
- Detect and evaluate scenarios where government failure occurs and its repercussions on resource allocation.
Verified Answer
LS
Learning Objectives
- Detect and evaluate scenarios where government failure occurs and its repercussions on resource allocation.