A ____________ is defined as a good that is better for a person than the person who may consume the good realises.
Public goods
Merit goods
De-merit goods
None of these
An __________ is said to arise if a third party is effected by the decisions and actions of others.
Externalities
The role of the ___________ is to intervence is markets that are not seen to be allocating resources in the most efficient or the most equitable manner.
Private
Public
Government
A __________ such as defence need to be financed by the government but they do not necessarily need to be produced by the government.
Full form of CBA.
Cost Benefit Analysis
Cost Bonus Activity
Cost Barter Analysis
___________ must be non-rival.
A different type of good from a merit or de-merit that may cause the market to fail is referred to as a ___________.
__________ will not necessarily be provided by the market.
____________ will take the form of taxes or subsidies.
Financial intervention
Regulation
Income transfers
_________ are those products that are worse for the individual consumers than the individual realises.
