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6. Which ones of these is not a drawback of emission trading?

  • Quoted figures may be incorrect.
  • Hard and expensive to monitor
  • Productivity decreases from having to invest in new technology
  • Firms can just buy more permits so pollution levels stay the same

7. For which one of these products would the Government not use a minimum price scheme?

  • Coffee
  • Cheap alcohol
  • Cigarettes
  • Milk

8. Which of these is not an example of a public good?

  • Defence
  • Views
  • NHS
  • Street lights

9. Which of these is not a form of Government Intervention?

  • Taxes
  • Subsidies
  • Wage costs
  • Regulation and permits

10. Which one of these is not a drawback of minimum price schemes?

  • Obesity increases
  • Opportunity cost to the government
  • Surpluses are often dumped in third world countries
  • Surpluses are often sold cheaply or destroyed

11. What are private benefits?

  • The utility derived from consumption
  • Cost to the rest of society of production
  • Society benefiting from consumption of a product
  • The costs of production or consumption.

12. Which of these is not an example of a quasi-public good?

  • Public transport
  • Roads
  • NHS
  • Education