A _____________ may be described as a good that has positive externaties associated with it.
Merit goods
Demerit goods
Public goods
None of these
_________ are those products that are worse for the individual consumers than the individual realises.
De-merit goods
Public goods must be __________.
Excludable
Non-excludable
Both 1 & 2
Positive externaliity is also known as _____________ .
External cost
Social cost
External benefit
A different type of good from a merit or de-merit that may cause the market to fail is referred to as a ___________.
_________ can be an important aid to decision making.
Positive externalities
Negative externalities
Cost benefit analysis
Negative externaliity is also known as ____________.
Government policy and methods of intervention can be summerised under ____________ broad headings.
Two
Three
Four
Five
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
____________ will take the form of taxes or subsidies.
Financial intervention
Regulation
Income transfers
