In cost-benefit analysis the term net social benefit refers to A private benefit plus social benefit. B social benefit minus private benefit. C social benefit minus private cost. D social benefit minus social cost.

Which measure is specifically designed to reduce divergences between private and social costs?

What could prevent a market failure?

Extra fishing boats start to operate from a local harbour which depends on fishing for its main income. Which action …

Explain the factors that are likely to make the supply of a product relatively price inelastic.

Explain what is used as money in a modern economy. Consider how an increase in the money supply can cause inflation.

Which is an internal economy of scale?