One reason we need government, even in a market economy, is that a the invisible hand seldom leads to an efficient allocation of resources in any market. b property rights become too entrenched in the absence of government. c the invisible hand, while powerful, is not perfect. d there are insufficient quantities of externalities in the absence of government.

Match the terms with their correct definition. terms: 1. accounts receivable 2. other receivables 3 debtor 4. notes receivable 5. maturity date 6. creditor definitions: a. the party to a credit transaction who takes on an obligation/payable. b. the party who receives a receivable and will collect cash in the future. c. a written promise to pay a specified amount of money at a particular future date. d. the date when the note receivable is due. e. a miscellaneous category that includes any other type of receivable where there is a right to receive cash in the future. f. the right to receive cash in the future from customers for goods sold or for services performed.