10  U.S. Small Business Administration, Office of Advocacy, www.sba.gov/advo/stats/sbfaq.pdf (91 KB PDF). 11  Calculations by Federal Reserve staff from the Federal Reserve Board’s 2003 Survey of Small Business Finances. For further information, see www.federalreserve.gov/pubs/bulletin/2006/smallbusiness/smallbusiness.pdf (178 KB PDF). 12  Kenneth J Arrow (1951), “An Extension of the Basic Theorems of Classical Welfare Economics,” in J Neyman (ed.
), Proceedings of the Second Berkeley Symposium on Mathematical Statistics and Probability (Berkeley and Los Angeles: University of California Press), pp. 507-32. BIS Review 103/2006  3  idealized market conditions, termed market failures, can inhibit the efficient allocation of resources.