
Definition Chapter 14 & 15
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Other
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10th Grade
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Practice Problem
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Medium
Gloria Anak GERAMONG
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1.
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1 min • 1 pt
The true (or full) costs consumption or production to society as a whole.
2.
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Goods or services which when consumed create positive spillover effects in an economy.
3.
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Goods or services which when consumed cause negative spillover effects in an economy.
4.
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The benefits of production and consumption enjoyed by a firm, individual or government
5.
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Occurs when the market forces of demand and supply are unsuccessful in allocating resources efficiently and cause external costs or external benefits
6.
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1 min • 1 pt
Occurs when the government sets a price above the market equilibrium price in order to encourage output of a certain good or service
7.
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The transfer of the ownership of assets from the public sector to the private sector.
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