More cards in this set

Card 36

Front

Measure of producer welfare: the surplus of market price received over the minimum price the producer would be prepared to accept

Back

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Card 37

Front

A side effect to market activity which benefits third parties without them having to pay

Back

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Card 38

Front

A side effect to market activity which harms third parties without compensation

Back

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Card 39

Front

Where government intervention causes inefficiency in resource allocation

Back

Preview of the front of card 39