A levels Economics (Module 1: Markets and Market Failure) Karteikarten am Economics - Unit 3 - Externalities, erstellt von Amardeep Kumar am 06/01/2015.
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Erstellt von Amardeep Kumar
vor fast 10 Jahre
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Schließen
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Erstellt von Amardeep Kumar
vor fast 10 Jahre
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What are the three functions of the market?
Define market failure.
What are private costs?
What is private benefit?
What are social costs?
What is social benefit?
How is the market price determined?
What are externalities?
Why do producers and consumers ignore externalities?
What are external costs?
What are external benefits?
How is the social cost calculated?
How is the social benefit calculated?
What are the characteristics of positive externalities in production?
What are the characteristics of negative externalities in production?
What are the characteristics of positive externalities in consumption?
What are the characteristics of negative externalities in consumption?
