_________ are those products that are worse for the individual consumers than the individual realises.
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
_____________ is quite possible that these private and social cost are the same.
Negative externalities
Positive externalities
____________ are used by government as a means of redistributing income or transferring income from one group in society to another group.
Regulation
Income transfers
Production
__________ will not necessarily be provided by the market.
Positive externaliity is also known as _____________ .
External cost
Social cost
External benefit
A ____________ is defined as a good that is better for a person than the person who may consume the good realises.
___________ intervention in the form of taxes and subsidies has been widely advocated for use in markets.
Financial
_________ can be an important aid to decision making.
Cost benefit analysis
A _____________ may be described as a good that has positive externaties associated with it.
Demerit goods
