Which of the following statements is not true?

A) Our government alters how resources are allocated in the economy by taxing,spending and issuing regulations.
B) The price mechanism will work best if there are a limited number of firms in each industry.
C) Lack of the provision of public goods is considered a market failure.
D) Not everything produced by the public sector is a public good.

Market Failure

A scenario where the distribution of goods and services through a free market fails to achieve efficiency, typically resulting in a decrease in overall social welfare.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they can be used by everyone without diminishing availability to others, such as public parks and street lighting.

Price Mechanism

The system by which the prices of goods and services are determined in a free market, through the forces of supply and demand.