Question

What is an exception to the general idea that markets lead to an efficient allocation of resources?

perfect competition

black market

imperfect competition

unfair competition

Answer 1

imperfect competition is your correct answer

Answer 2

The correct answer choice is:

Imperfect competition

In economics, imperfect competition may be a form of market structure showing only few options of competitive markets. Varieties of imperfect competition include: monopolistic competition: A state of affairs during which several companies with slightly or totally different product contend.