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    social costs

    costs that include both the private costs incurred by firms and also additional costs incurred by third parties outside the production process, like costs of pollution

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Questions & Answers

What is the isoquant and what is illustrated by it?
Ayanda Reply
what is scarce
Abdiqadir Reply
define the word economy
what is convergence
Kofi Reply
Convergence Convergence The process of becoming quantitatively more alike. In an international context, it often refers to countries becoming more alike in terms of their factor prices or in terms of their per capita incomes, perhaps as a result of trade or other forms of economic integration.
what is wealth
Sajjad Reply
wealth is any thing that has value that one owns..
what is budget deficit?
when expenditure made by government is greater than the Budget , than this situation is called budget deficit.
wat is price determination
Abigail Reply
Do you mean what a price determination is?
The market supply curve shows the amount supplied at every price. ... The equilibrium price of a good is: a price at which quantity supplied equals quantity demanded. a price at which excess demand equals zero.
what is population
Richard Reply
it is the total percentage of people living in a country or in the world
whats labour leisure?
Tuh Reply
what is poverty datum lin?
KayEm Reply
what is scarce
central problems for whom to produce
Gauri Reply
please clear it, what is your adject question?
how do lower interest rates affect investment
meek Reply
when ever interest rate lower than investment increases
what's the summary meaning of economic
which capital is best and why
Sanju Reply
outline 4 reasons why public corporation are establush
Ophelia Reply
how does the foreign currency rate affect to your needs and wants?
Donna Reply
a country can not produce everything so it needs to import some of those thing and once the currency rate becomes high we can not import as much as we can
for instance let's say $1=R4 with R16 we can import more goods than when $1=R8
Difference between needs and want?
Tijani Reply

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Source:  OpenStax, Principles of economics. OpenStax CNX. Sep 19, 2014 Download for free at http://legacy.cnx.org/content/col11613/1.11
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