Markets, Demand and Supply

Which of the following can be described as a 'third party'

If branding is highly successful, the service is:

Price has increased by 10% and demand has fallen by 10%

What is the 'free rider problem'

Increasing taxes on a demerit good will:

Which is an example of a quasi public good?

Which of these products would have the most inelastic supply?

This good has positive externalities in consumption

If a good is 'non-rival'

Tragedy of the Commons is:

What does the Tragedy of the Commons describe?

Which of these will cause a shift along the demand curve?

If a good is non-excludable:

What is 'consumer sovereignty'

Which of the following is a negative externality associated with airport building?

If a consumer wants to buy at £30 and the market price is £25, what is her consumer surplus?

This is achieved when a firm is using factors of production to the maximum

What is a positive statement

Which is a disadvantage of specialisation

When costs are passed to third parties, we have no:

Which of these is a normative statement?

What does the signalling function do?

Which is most likely to be an example of government failure?

Which is not a determinant of supply?

Which of the following will lead to a shift in the demand curve?

What does the rationing function do?

Which point is an evaluation point against indirect taxes?

Which of these goods would be described as an inferior good?

Which is an example of negative externalities in production

If a good is unitary price elastic, what happens when price increases by 10%