Final answer:
A business with a team lacking technical and managerial equipment may struggle with poor management and inefficiencies, potentially leading to business failure and the painful outcomes that come with it in a market economy.
Step-by-step explanation:
If the team in a business is not fully equipped technically and managerially, the company may face several difficulties. Such teams may struggle to make effective decisions, leading to poor management and inefficiencies in operations. These drawbacks can result in business failures, affecting the workers, managers, and the overall economy negatively. In a market economy, a firm's survival depends on its ability to adapt to changing market conditions, manage resources effectively, and maintain competitive advantages. Without a strong technical and managerial foundation, companies may make critical mistakes such as poor design decisions early in the process that prevent them from meeting customer needs or responding to shifts in market supply and demand. Consequently, the company risks losing to competitors and may need to undergo painful processes like downsizing or even closing, as the economic system naturally filters out firms that cannot sustain profitability.