Examlex
How could you use the Coase theorem to predict what would happen when smoke from a factory created dirty air and slightly acid rain for all the residents in the area in a one-kilometre radius of the plant?
Optimal Amount
The ideal quantity of a resource or good that achieves the best outcome or utility.
Positive Externalities
Benefits that result from a commercial activity or action but affect uninvolved third parties who did not choose to be involved in the transaction.
Spillover Benefits
Positive effects or advantages that result from a product, event, or activity, affecting those who are not directly involved.
Price
The total funds necessary to acquire a commodity, service, or asset.
Q5: List four government tax or spending policy
Q6: Define net exports.
Q15: What are the two significant characteristics of
Q22: Evaluate: A tax system in which those
Q27: What is the effect of net exports,
Q30: What is meant by "society's economic problem"?
Q33: What information would be important for assessing
Q84: Which of the following would cause the
Q90: If prices are slow to adjust, then
Q156: If the capital stock remains fixed while