Away to prevent market failure from inadequate competition is for the government to

controlling, organizing, planning, and leading

Explanation:

From the question we are informed that Carol's manager is retiring and she will take over. And she will take over management position. Carol needs to have a general understanding of what it takes to be a manager. Therefore in this case, She will need to have knowledge about ✓controlling

✓organizing

✓planning

✓ leading

And all of these are managerial function which are managerial job role as regards to task-based perspective.

Organizing can be regarded as function of management which requires development of organizational structure as well as allocation of human resources so that objective of organization can be met

Planning which requires the manager to create plans so that goals and objectives can be achieved. It involves

delegation of responsibilities, allocation of employee resources