Market Failure 2.5 / 5 based on 2 ratings ? EconomicsMarket failureASOCR Created by: leonieCreated on: 27-11-12 11:35 When a market is not operating in market equillibrium Market Failure 1 of 10 Consumption is more harmful than actually realised Demerit good 2 of 10 Private benefits lower than that to society Merit Good 3 of 10 Goods that are consumed collectively, have no rivals and are non-excludable Public Good 4 of 10 Some features of public goods but not all Quasi-public good 5 of 10 An example of a demerit good that has a major cost to the NHS because of adverse health problems Fast Food 6 of 10 Benefit to individual consuming Private beneift 7 of 10 a cost to society as a whole Public cost 8 of 10 An example of a merit good that is free to us but not in the majority of other countries Health care 9 of 10 someone who diectly beneifts from the consumption of a public good but does not contribute towards it's provision Free rider 10 of 10
Comments
No comments have yet been made