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GCSE
A Level & IB
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More cards in this set
Card 6
Front
Explain what is meant by private benefit
Back
Card 7
Front
Explain what is meant by external benefit
Back
Card 8
Front
Explain what is meant by social benefit
Back
Card 9
Front
Show the market failure graph (external costs)
Back
Card 10
Front
What is meant by the socially optimum position
Back
Card 11
Front
What is meant by welfare loss
Back
Card 12
Front
Show the market failure graph (external benefits)
Back
Card 13
Front
What is meant by welfare gain
Back
Card 14
Front
What is the impact of external costs
Back
Card 15
Front
Impacts of private costs
Back
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