Bank PO Questions

Market failure arises because it is not possible for the market to correctly weight cost and benefits in a situation in which some of the cost is completely unaccounted.

Demand-side market failures happen when demand curves do not reflect consumer’s full willingness to pay for goods or services.

Supply-side market failures occur when supply curves do not reflect the full cost of producing a good or services.

A lessee is a person who rents land or property from a lessor. The lessee is also known as the "tenant".

A right of lessee can be described as the right to exclusive possession.

Assembler is not the hardware among the given options. Hardware is what is made of IC's and circuits.

Joseph Priestley and Carl Wilhelm Scheele both independently discovered oxygen in the year 1774, but Priestly is usually given credit for the discovery.

Conduction is the movement of heat through a substance by the collision of molecules. It occurs when two object at different temperatures are in contact with each other. Heat flows from the warmer to the cooler object until they are both at the same temperature.