Question 6 ( 0.2 points) When people identify an outcome of a market as a market failure, what may follow? Requests for government intervention using regulation and laws. A laissez faire response. Communism and abandoning markets entirely. Markets never fail and everyone is always happy with their outcomes.

When a market is identified as failing, it often leads to calls for government intervention. This can manifest as regulations or laws designed to correct the inefficiencies, address externalities, or provide public goods that the free market fails to deliver. Essentially, the thought is that a little nudge from the government can help guide the market back toward more favorable outcomes for society. On the flip side, there's a school of thought that believes in a hands-off approach, advocating for laissez-faire economics. Proponents argue that markets, if left to operate freely without interference, have the natural ability to self-correct and reach equilibrium over time, ultimately benefiting everyone involved. They might say that government meddling could disrupt this organic balance!