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More cards in this set
Card 6
Front
Name three alternate terms for negative externalities .
Back
Card 7
Front
What is meant by private cost ?
Back
Card 8
Front
What is meant by private benefit ?
Back
Card 9
Front
Where is market equilibrium shown on an externality diagram ?
Back
Card 10
Front
What is the social equilibrium point and where is it shown on an externality diagram ?
Back
Card 11
Front
Why does the Marginal Private Benefit (MPB) / demand curve shift downwards ?
Back
Card 12
Front
What are public goods ?
Back
Card 13
Front
What is meant by non - excludability / free rider problem ?
Back
Card 14
Front
What is meant by non - rivalry / non - diminishability ?
Back
Card 15
Front
Why does the private sector not provide public goods ?
Back
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