Examlex
If an organization wanted to run a conference to promote research and social networking opportunities for those working in mental health, they would be participating in which of the core strategies set out by the Mental Health Global Action Programme?
Demand Curve
A graph showing the relationship between the price of a good or service and the quantity demanded by consumers at different prices.
Social Costs
The total cost to society, including both private costs incurred by firms and external costs to individuals not involved in a transaction.
Socially Optimal
A state in which resources are allocated in the most efficient way from a societal perspective, maximising collective welfare or benefit.
Pigovian Tax
A tax or charge levied on the production of a product that generates negative externalities. If set correctly, the tax will precisely offset the overallocation (overproduction) generated by the negative externality.
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