Market failure occurs when A) a good is too expensive for the ...

[burchfield96]

Market failure occurs when
 
  A) a good is too expensive for the market to provide.
  B) an unrestrained market economy leads to too few or too many resources going to a specific economic activity.
  C) one good is superior to another and drives it out of the market.
  D) the stock market experiences a very large loss.

Question 2

Demand is defined as
 
  A) a schedule of how much of an item people will purchase at any particular price of that item during a specified time period, other things being constant.
  B) a specific quantity of an item that people want at a particular price of that item during a specified time period, other things being constant.
  C) a schedule of how much of a good or service people will purchase at any particular price of a different item during the specified time period, other things being constant.
  D) a specific quantity of a good or service that people will purchase at one particular price of another item during a specified time period, other things being constant.

[gstein359]

Answer to Question 1

B

Answer to Question 2

A

[burchfield96]

TYSM

[yeungji]

Excellent