Which of the following concepts is best to describe the basic economic problem?

Which Economist was famed for encouraging Government Intervention to correct economic activity in the 1930s?

Which of the following is not a non-price determinant of demand?

The Market is in equilibrium when:

Producing the maximum amount of a good at the lowest price and therefore maximising the benefits to society can be defined as

PED < 1 =

At which point is a firm's total revenue maximised?

What is the cause of the demand curve being downwards sloping?

Which of the following can influence the Price Elasticity of Supply

When the YED value is negative, what do we refer to the good as:

Which of the following can be a reason to the idea that free markets allocate resources efficiently?

Which form of intervention into a market will cause shortages?

In which form of intervention is society as a whole worse off (excluding externalities)?

Which of the following externalities cause an overallocation (overproduction and overconsumption) and are a market failure?

Which of the following can be used to help correct threats to sustainability and depletion of common access resources?

Which policy was first put forward by Elinor Ostrom (first women to win the nobel prize for economics) in 2009?

Why do governments need to provide public goods due to the markets failing here?

Making it a requirement for certain professionals to has a license to offer a service is an example of a policy that is aimed to correct:

When a stakeholder takes a risk but does not face the full cost of their decision, this is known as:

From the Circular Flow of Income, For providing factors of production to firms, households receive: