1. In the context of taxation, the term “Market Failure” refers to ____. periods like the Great Depression taxes that penalize business for earning profit goods and services not able to be supplied by the government goods and services not able to be supplied by the private market

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16-09-2018
Business

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1. In the context of taxation, the term “Market Failure” refers to ____. periods like the Great Depression taxes that penalize business for earning profit goods and services not able to be supplied by the government goods and services not able to be supplied by the private market

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Rupicapra Rupicapra · Answer 1 · 2018-09-26T07:13:38+02:00

Answer: Goods and services not able to be supplied by the private market

The term market failure refers to a situation where the suppliers are not able to supply the quantity of goods demanded by the consumers.

Market Failure occurs when there is inefficient allocation of goods and services. The price of a particular good or service fails to take all the costs and benefits involved into account. Hence the suppliers can’t provide the quantity of good that is demanded.

Market failure can occur because of positive and negative externalities, environmental concerns, lack of production of public goods, abuse of monopoly, underproduction of merit goods and overproduction of demerit goods.

In such cases, the government intervenes and takes steps to remedy the situation.

Parrain Parrain · Answer 2 · 2022-02-03T12:59:11+01:00

The term market failure refers to goods and services not able to be supplied by the private market.

What is Market Failure?

it refers to when the market is no longer functioning as it should.
Leads to economic problems.

The market is a place where goods and services are traded and if there is a market failure, these can no longer be supplied.

In conclusion, option D is correct.

Find out more on market failure at https://brainly.com/question/1800281.