f Flashcards
1
Q
Defintion of Market Effieicnecy
A
Market effiency is achieved y allocating resources so that society maximises net eneifts
2
Q
Positive Externalites and negative externalities
A
Positive externalities is neighbor having beautiful garden and negative externalities is sleep getting disrupted due to neighbours party
3
Q
What role does gov do when there is market failure
A
Regulation and correcting externality by adding subsidy or tax
4
Q
Interlizing positive education such as education
A
Education provides benefits not only to the individual receiving it but also to society as a whole in terms of increased productivity, lower crime rates, and a more informed citizenry.
