Questions: Question 4 1 pts What is a self-correcting mechanism? When market can handle a situation without government intervention When government can handle a situation with market mechanism When market can handle a situation with government intervention When government can handle a situation without market mechanism 1 pts

Question 4 1 pts What is a self-correcting mechanism? When market can handle a situation without government intervention When government can handle a situation with market mechanism When market can handle a situation with government intervention When government can handle a situation without market mechanism 1 pts
Transcript text: Question 4 1 pts What is a self-correcting mechanism? When market can handle a situation without government intervention When government can handle a situation with market mechanism When market can handle a situation with government intervention When government can handle a situation without market mechanism 1 pts
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Solution

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Answer

The answer is: When market can handle a situation without government intervention

Explanation
Option 1: When market can handle a situation without government intervention

This option correctly describes a self-correcting mechanism. In economics, a self-correcting mechanism refers to the ability of a market to adjust and return to equilibrium without external intervention, such as government policies. For example, if there is a surplus of goods, prices may fall, leading to increased demand and a return to equilibrium.

Option 2: When government can handle a situation with market mechanism

This option is incorrect because it suggests government intervention using market mechanisms, which is not the definition of a self-correcting mechanism. A self-correcting mechanism implies minimal or no government involvement.

Option 3: When market can handle a situation with government intervention

This option is incorrect because it involves government intervention, which contradicts the concept of a self-correcting mechanism that operates independently of government actions.

Option 4: When government can handle a situation without market mechanism

This option is incorrect as it describes a scenario where the government acts independently of market mechanisms, which is not related to the concept of a self-correcting mechanism in a market context.

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