Externalities, merit and demerit goods and public, quasi public and private goods

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  • Created by: Jade
  • Created on: 01-12-12 15:54

1. Goods having some but not all of the characteristics of a public good

  • Quasi public good
  • Private good
1 of 20

Other questions in this quiz

2. Demerit goods, have ______ externalities arising out of their use

  • Negative
  • Positive

3. What is meant by non-rivalry?

  • Consumption by any one person does not affect consumption of any others
  • People can benefit directly from the consumption of a public good but do not contribute towards its provision
  • Individuals cannot be excluded from their consumption. They are provided for all, irrespective of whether they have paid for the product indirectly through taxation.

4. Positive externalities result in?

  • Underproduction
  • Overproduction

5. What are externalities ?

  • Externalities occur when a third party is affected by the economic decisions of others.
  • Externalities occur when a first party is affected by the economic decisions of others
  • Externalitites occur when the marginal private cost is higher the marginal social cost.

Comments

izzy

very good quiz!

davidsalter

This 10 question quiz can be used to provide a brief respite from intensive reading and highlight areas for further study.

Alvarodasilva17

(y) 

ISISJJFISH

slap my botty

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