If the price is a market is fixed by the government below equilibrium.
There is excess equilibrium
There is excess supply
There is excess demand
There is equilibrium
Merit goods are
Not provided in the free market economy
Under provided in the free market economy
Over provided in the free market economy
Provided free
If the market price is below the equilibrium price
Demand will be less than supply
Quantity demanded will be less than quantity supplied
Quantity demanded will be greater than quantity supplied
Quantity demanded will equal quantity demanded
Which of the following is the government most likely to subsidizes?
Negative externalities
Positive exrternalities
Monopolies
Oligopolies
With a positive externalitly
There is under consumption in the free market
There is over consumption is the free market
The government may tax to decrease production
Society could be made off less was produced.
Nationalization occurs when:
The government sells assets to the private sector
The government bans a product
The government takes ownership of a business
The government taxes a product to raise its price
If the price in a market is fixed by the government above equilibrium.
Economists use the term 'Black markets' for situations where
Goods are sold at prices above legal or official prices
Illegal substances are sold
Transactions are not recorded in the GDP figures
Buyers and /or sellers are not paying taxes as they should
A public good
Is provided by the government
Is free
Has the properties of being non executable and non diminishable
Has external cost
Tax incidence is the
Behaviour of shifting the tax to another party
Structure of the tax
Ultimate distribution of a tax's burden
Measure of the impact the tax has on employment and output