Which statement is correct? A External benefit minus private benefit equals social benefit. B Private benefit minus external benefit equals social benefit. C Social benefit minus external benefit equals private benefit. D Social benefit plus private benefit equals external benefit.

Explain the difference between public goods and private goods. Consider why profit can be made through the supply of …

What might help achieve allocative efficiency?

In 2015, a company electrified the main railway line between two cities in order to decrease the journey time. The wo…

A rise in the price of a good is accompanied by an increase in the quantity demanded. What could explain this?

What causes the demand curve for an inferior good to shift to the right?

In a town, bus fares fall by 50% and this leads to an increase in bus use by 30%. The effect on car use is very low w…