... are a type of market failure because the market puts out the wrong signals
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Card 9
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Negative externalities in ... include: Factories creating pollution and The use of Pesticides
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Card 10
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Negative externalities in ... include: Excessive alcohol drinking and Passive smoking
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Card 11
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... private benefit is the extra benefit derived from consuming one more item
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Card 12
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... private costs are the costs of producing the next item( which can also be the supply curve)
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Card 13
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... is the the loss of economic efficiency that can occur when the free market equilibrium for a good or a service is not achieved
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Card 14
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Government ... to tackle negative externalities: Bans and regulation, Taxes, Education providing information, Subsidising alternatives and Pollution permits
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Card 15
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The ... principle is when the people who create pollution, have to pay more money