Positive externality Study guides, Revision notes & Summaries

CIS 105 FINAL Arizona State University - Question and answers 100% correct CIS 105 FINAL Metcalfe's Law - correct answer states the effect of a telecommunications network is proportional to the square of the number of connected users of the system. Network Effect - correct answer (also called network externality or demand-side economies of scale) is the positive effect described in economics and business that an additional user of a good or service has on the value of that product t...

1. facilitates real estate transaction 2. strengthens businesses' ability to operate in risky areas 3. protects wealth/savings of households in risky areas What are three positive externalities that occurred due to access to terrorism insurance? negative externality Pollution from gasoline in a car or industrial pollution would be examples of what? risk pool This is the most common terrorism model for insurance Make Available Provision Federal Loss Provision What are the two main feat...

RMI 3567 Exam 2 Questions and Answers 100% Correct What are three positive externalities that occurred due to access to terrorism insurance? - Correct Answer ️️ -1. facilitates real estate transaction 2. strengthens businesses' ability to operate in risky areas 3. protects wealth/savings of households in risky areas Pollution from gasoline in a car or industrial pollution would be examples of what? - Correct Answer ️️ -negative externality This is the most common terrorism model...

Metcalfe's Law - ANSWERSstates the effect of a telecommunications network is proportional to the square of the number of connected users of the system. Network Effect - ANSWERS(also called network externality or demand-side economies of scale) is the positive effect described in economics and business that an additional user of a good or service has on the value of that product to others. When a network effect is present, the value of a product or service increases according to the number of...

Insurance coverage likely has little impact on people's use of needed health care services.Insurance coverage likely has little impact on people's use of needed health care services. - False. Likely has a major impact, if something is not covered and is expensive to pay with from out-of-pocket then that individual likely won't be able to get access to that care. Reducing inequalities in health within the population should focus primarily on the distribution of health care. - True. Should...

Scarcity correct answers the limited nature of society's resources Economics correct answers the study of how society manages its scarce resources Efficiency correct answers the property of society getting the most it can from its scarce resources Equity correct answers the property of distributing economic prosperity fairly among the members of society Opportunity cost correct answers whatever must be given up to obtain some item Market economy correct answers an economy that al...

Externalities correct answers An externality occurs whenever actions taken by firms or consumers impose costs or confer benefits on others that are not involved in the transaction (third party effects) without any reimbursement for the cost or a charge for the benefit involved Examples of externalities correct answers Examples of Negative Externalities: a free market produces too much of a harmful good that is socially undesirable Automobile exhaust Cigarette smoking Barking dogs (lo...

Economics the study of how society manages its scarce resources 5 principles 1. People Face Trade-Offs 2. Opportunity Cost 3. People respond to incentives 4. Markets are usually a good way to organize economic activities 5. Governments can sometimes improve market outcomes 1. People Face Trade-Offs Individual Trade-Offs Society's Trade-Offs -efficiency and equality -ex: progressive income tax (equ. inc, effic. dec) 2. Opportunity Cost whatever must be given up ...

Test Bank for Strategic Management of Technological Innovation 6th Edition Schilling 45. _____ is a positive externality of research and development efforts. a. Knowledge broker b. Agglomeration c. Technological spillover d. Technology cluster Answer: c Difficulty: Easy Page: 35 2-11 Essay 46. You have just been given an assignment within your company to design a creativity training program. Describe the elements you would include in the program and explain the rationale of each one...

WGU C718 Full Study Guide Questions Rated A+ What is the definition of economics? the study of how humans make decisions in the face of scarcity What are economic and accounting profits? Accounting - profit computed using only explicit costs Total revenue - Explicit costs = accounting profit Economic - profit computed using explicit and implicit costs Total revenue - Explicit costs - Implicit costs = Economic profit What are the characteristics of an oligopoly? 1) few firms 2) barriers to ent...