Negative externalities Study guides, Class notes & Summaries

A competitive firm is said to maximize its profit when....... - the price is equal to marginal cost. A Firm's Cost Curve - A firm's demand for a factor input, for example labour, slopes _____________. A) upward, due to the increasing marginal product of labour B) downward, due to the diminishing marginal product of labour C) downward, due to the increasing wage rates D) upward, due to the decreasing wage rates - B A profit-maximizing competitive firm should hire workers up to the point ...

There is a great deal of debate regarding what people expect of their government. Government's may redistribute income through which of the follow: I. Market intervention II. Transfer Payments III. Taxation A. I only B. II only C. III only D. I and I E. I, II, and III - correct answer E - I, II, and III In module 1, we discussed the six steps of the risk management process. Risk (loss) Reduction is aimed at: A. frequency B. severity C. both frequency and severity D. retentio...

Economics Today The Macro View Ch.5 Public Spending and Public Choice 1. Market failure ️: Prevent the price system from attaining economic efficiency and individual freedom. 2. Externality (external cost) ️: A consequence of an economic activity that spills over to affect third parties. Pollution is an _____? Answer: externality. 3. Market Failure ️: A situation in which the market economy leads to too few or too many resources going to a specific economic activity. 4....

Economic Role of Government correct answers 1) Establish Suitable Framework 2) Provide Collective Goods and Services 3) Correct for externalities 4) Promote Competition 5) Promote Macroeconomic Stability 6) Redistribution of Income Externality correct answers An uncompensated gain or loss imposed on one by the maximizing behavior(making life better) of another Negative Externalities correct answers Air pollution, water pollution, visual pollution, noise pollution *Free market will ov...

CSR Final Exam With 100% Correct And Verified Answers Utalitarianism - Correct Answer-Greatest good for greatest number of people. Rights of some individuals must be sacrificed for rights of everyone else. Basis of free market. Consequentialist theory. Deontology - Correct Answer-Duty, obligation, and principal, regardless of the outcome. Nonconsequentialist theory. Ends never justify means. ex. Be honest no matter what... consequence? Anne Frank Categorical imperative - Correct Answer-Wo...

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...

REAL 4000 UGA Dietz Exam 1 Study Review | Latest Version | 2024/2025 | Rated A+ What is the primary function of a real estate market analysis? To evaluate the demand and supply conditions for a specific property or type of real estate in a particular area. How do externalities impact property values in real estate? Externalities, such as nearby amenities or negative factors like pollution, can either increase or decrease property values based on their influence on desirability. ...

Society's Goal correct answers To produce an optimal mix of output Optimal mix of output correct answers the most desirable combination of output attainable using existing resources, technology, and social values. Market Failure correct answers an imperfection in the market mechanism that prevents optimal outcomes. Public goods. Externalities. Market power. Inequity. correct answers Specific sources of market failure are: Private good correct answers a good or service whose consu...

OPM Prep Exam 1 Questions & Answers 2024/2025 product innovations - ANSWERSnew products/product features process innovations - ANSWERSimprove organizational efficiency solow residual - ANSWERSthe unaccounted for economic growth in GDP represented technological change negative externalities of technological innovation on society - ANSWERSpollution, environmental damage, antibiotic resistant bacteria, etc. innovation funnel - ANSWERS3000 ideas -> 100 leads -> 2-3 products de...

The concepts of land are - Legal, geographic and environmental, economic, and social. For appraisal purposes, market value may be defined as - The most probable selling price Appraisal is - The act or process of developing an opinion of value. What is Chattel? - Personal property is generally considered property that is movable,[1] as opposed to real property or real estate. What is a fixture? - any physical property that is permanently attached (fixed) to real property (usually land...