1. Negative externalities cause the social cost curve to lie ____ the private cost curve
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2. Up to a point, extra consumers using a park, beach or road do not reduce the amount of the product available to other consumers. Eventually additional consumers reduce the benefits to other users. This is?
- Semi non-rival
- Semi non-excludable
3. What are negative externalities?
- Negative externalities occur when the social costs are greater than the private costs.
- Negative externalities occur when the private costs are greater than the social costs .
- Negative externalities occur when the first parties do not benefit from third party actions.
4. What is a positive externality?
- Positive externality occurs when the social benefit is greater than the private benefit
- Positive externality occurs when the private benefit is greater than the social . benefit
5. Goods having some but not all of the characteristics of a public good
- Quasi public good
- Private good