A different type of good from a merit or de-merit that may cause the market to fail is referred to as a ___________.
Merit goods
De-merit goods
Public goods
None of these
Government policy and methods of intervention can be summerised under ____________ broad headings.
Two
Three
Four
Five
___________ intervention in the form of taxes and subsidies has been widely advocated for use in markets.
Production
Financial
Regulation
____________ will take the form of taxes or subsidies.
Financial intervention
Income transfers
___________ must be non-rival.
_____________ is quite possible that these private and social cost are the same.
Negative externalities
Positive externalities
__________ will not necessarily be provided by the market.
__________ will be under produced in a free market situation.
None of these.
Positive externaliity is also known as _____________ .
External cost
Social cost
External benefit
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
