Explain the two main causes of market failure and give an example of each

It is I hope obvious that Granny Weatherwax has absolutely no sense of humour but she has, as it were, heard about it. She has no grasp of how or why jokes work — she's one of those people who say "And then what happened? She can vaguely remember the one-liner, "Give me an alligator sandwich — and make it snappy!

Explain the two main causes of market failure and give an example of each

German re-alignment to Austria-Hungary and Russian re-alignment to France, —[ edit ] In German and Russian alignment was secured by means of a secret Reinsurance Treaty arranged by Otto von Bismarck. However, in the treaty was allowed to lapse in favor of the Dual Alliance between Germany and Austria-Hungary.

This development was attributed to Count Leon von Caprivithe Prussian general who replaced Bismarck as chancellor.

Explain the two main causes of market failure and give an example of each

It is claimed that the new chancellor recognized a personal inability to manage the European system as his predecessor had and so he was counseled by contemporary figures such as Friedrich von Holstein to follow a more logical approach as opposed to Bismarck's complex and even duplicitous strategy.

Petersburg to engage in a direct understanding with Vienna, without a written accord. This move was prompted by the Russian need for an ally since, during this period, it was experiencing a major famine and a rise in anti-government revolutionary activities.

Von Caprivi's strategy appeared to work when, during the outbreak of the Bosnian crisis ofit demanded that Russia step back and demobilize, which it did.

French distrust of Germany[ edit ] Main article: Germany had won decisively and established a powerful Empirewhile France fell into chaos and military decline for years.

A legacy of animosity grew between France and Germany following the German annexation of Alsace-Lorraine. The annexation caused widespread resentment in France, giving rise to the desire for revenge, known as revanchism. French sentiments were based on a desire to avenge military and territorial losses and the displacement of France as the preeminent continental military power.

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During his later years, he tried to placate the French by encouraging their overseas expansion. However, anti-German sentiment remained. But the French nation was smaller than Germany in terms of population and industry, and thus many French felt insecure next to a more powerful neighbor.

The French consensus was that war was inevitable. With the formation of the Triple EntenteGermany began to feel encircled. Britain concluded agreements, limited to colonial affairs, with its two major colonial rivals: Some historians see Britain's alignment as principally a reaction to an assertive German foreign policy and the buildup of its navy from that led to the Anglo-German naval arms race.

It was "not that antagonism toward Germany caused its isolation, but rather that the new system itself channeled and intensified hostility towards the German Empire".

The Entente, in contrast to the Triple Alliance or the Franco-Russian Alliancewas not an alliance of mutual defence, and Britain therefore felt free to make her own foreign policy decisions in For purposes of ultimate emergencies it may be found to have no substance at all.

For the Entente is nothing more than a frame of mind, a view of general policy which is shared by the governments of two countries, but which may be, or become, so vague as to lose all content. First Moroccan Crisis, — Bosnian crisis In Austria-Hungary announced its annexation of Bosnia and Herzegovinadual provinces in the Balkan region of Europe formerly under the control of the Ottoman Empire.

Though Bosnia and Herzegovina were still nominally under the sovereignty of the Ottoman Empire, Austria-Hungary had administered the provinces since the Congress of Berlin inwhen the great powers of Europe awarded it the right to occupy the two provinces, with the legal title to remain with Turkey.

The announcement in October of Austria-Hungary's annexation of Bosnia and Herzegovina upset the fragile balance of power in the Balkans, enraging Serbia and pan-Slavic nationalists throughout Europe.

Explain the two main causes of market failure and give an example of each

Though weakened Russia was forced to submit, to its humiliation, its foreign office still viewed Austria-Hungary's actions as overly aggressive and threatening.

Russia's response was to encourage pro-Russian, anti-Austrian sentiment in Serbia and other Balkan provinces, provoking Austrian fears of Slavic expansionism in the region.

Agadir crisis French troops in Morocco, Imperial rivalries pushed France, Germany and Britain to compete for control of Morocco, leading to a short-lived war scare in In the end, France established a protectorate over Morocco that increased European tensions.

The Agadir Crisis resulted from the deployment of a substantial force of French troops into the interior of Morocco in April The main result was deeper suspicion between London and Berlin, and closer military ties between London and Paris.

British backing of France during the crisis reinforced the Entente between the two countries and with Russia as wellincreasing Anglo-German estrangement, deepening the divisions that would erupt in The interventionists sought to use the Triple Entente to contain German expansion.

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The radicals obtained an agreement for official cabinet approval of all initiatives that might lead to war. By the interventionists and Radicals had agreed to share responsibility for decisions culminating in the declaration of war, and so the decision was almost unanimous.

France was thus able to guard her communications with her North African colonies, and Britain to concentrate more force in home waters to oppose the German High Seas Fleet.

The cabinet was not informed of this agreement until August Meanwhile, the episode strengthened the hand of Admiral Alfred von Tirpitzwho was calling for a greatly increased navy and obtained it in Italy captured the Ottoman Tripolitania Vilayet provinceof which the most notable sub-provinces sanjaks were FezzanCyrenaicaand Tripoli itself.

These territories together formed what became known as Italian Libya. The main significance for the First World War was that this war made it clear that no Great Power appeared to wish to support the Ottoman Empire any longer and this paved the way for the Balkan Wars.

The system of geographical balances that had enabled local conflicts to be contained was swept away.In short, explaining the punchline of a joke just makes it not funny, whether or not it would be otherwise.

Jokes can be hard to do, and sometimes not everyone will get it, but while explaining the context might help, the punchline should stand on its own.

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2 Explain the two main causes of market failure and give an example of each 3 from MACROECONO at Thomas Edison State College%(1). Explain the two main causes of market failure and give an example of each.

ANSWER: Causes of Market Failure. In general, market failure occurs when the allocation of goods in the free market .

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Lori asks: “I was fired for performance issues and was wondering how I could downplay this. When I am interviewing for a position the question arises as to why I left my last position. I normally say that I was terminated and I don’t go into the specifics with the interviewer.

Risk is the possibility of losing something of value. Values (such as physical health, social status, emotional well-being, or financial wealth) can be gained or lost when taking risk resulting from a given action or inaction, foreseen or unforeseen (planned or not planned).Risk can also be defined as the intentional interaction with uncertainty.

Removing waste from the body is only one of the main functions of your kidneys. Take a look at the things kidneys do that makes them so important.

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