We can see here that in the Market Failures video, Clara and Victor were actually discussed. B. Clara and Victor
Market failure refers to a situation where the allocation of goods and services in a free market is not efficient or optimal from a societal perspective. In a perfectly competitive market, prices and quantities are determined by the interaction of supply and demand, leading to an equilibrium where resources are allocated efficiently.
Externalities occur when the production or consumption of goods and services impose costs or benefits on third parties who are not directly involved in the transaction.
The illustration given in the video discusses about Clara and Victor.
The complete question:
In the video, "Market Failures" Which two people were discussed in this video?
multiple choice
A. Clara and Alex
B. Clara and Victor
C. Emma and Alex
D. Emma and Victor