Negative externality Study guides, Class notes & Summaries

100 Economics Terms Latest Update 100% Correct Scarcity the limited nature of society's resources Economics the study of how society manages its scarce resources Efficiency the property of society getting the most it can from its scarce resources Equity the property of distributing economic prosperity fairly among the members of society Opportunity cost whatever must be given up to obtain some item Market economy an economy that allocates resources through the decentralized decisions of ma...

BUSINESS MAJOR FIELD TEST QUESTIONS AND ANSWERS GRADED A;(FULL TEST BANK) Accounting: What costs should be considered when making non-routine decisions? (3) Ans- The price of material, Factory overhead costs, and the price of labor Accounting: Total product/ units produced and sold equals?? Ans- Product Cost per Unit Accounting: What is a general explanation of what the contribution margin is? Ans- The difference between variable costs subtracted from sales Accounting: In a ...

Capital Budgeting process - ANSWER-The process that companies use for making long-term investment decisions in projects. Important because: 1) a significant amount of capital is usually tied up in long-term projects so the success of these investments has a significant influence on the future prospects of the firm 2) The principles of capital budgeting can also be used in making other operating decisions (investment in working capital and M&A) 3) the valuation principles used in capital budge...

HR2454 cow tax to reduce GHG emissions from ag - Answer-False HR2454 would have largely exempted ag from GHG regulations - Answer-true under HR2454, farmers might be able to sell carbon credits to power plants, etc. - Answer-False Over 40% US GHG from petroleum (cars) - Answer-true over 30% US GHG from coal (electricity) - Answer-true in 2007 congress voted to increase fuel efficiency to 35 mpg by 2020 - Answer-true HR2454 said 6% electricity from renewable sources by 2012, 25% by 2025 - A...

What is technological innovation?The act of introducing a new device, method, or material for application to commercial or practical objectives (solves a problem); they are novel and have never been done before; it is now the single most important driver of competitive success in many industries What are externalities?Costs (or benefits) that are borne (or reaped) by individuals other than those responsible for creating them. Thus, if a business emits pollutants in a community, it imp...

new stadiums and arenas almost invariably lead to increases in attendance in the years following their construction - Answer honeymoon effect which sport experiences the longest honeymoon effect? why? how long does it last? - Answer baseball; games don't sell out as much, so there is more room for growth; 10 years what is the biggest impact of new facilities on fan attendance? - Answer fans are in different, more expensive seats (there are more, bigger, and larger luxury boxes and special...

LEED Terms & Definitions Question with complete solution 2023Built Environment The man-made surroundings that provide the setting for human activity. Includes buildings, roads, infrastructure, neighborhoods, and cities. Carbon Neutrality Achieving net zero carbon emissions by balancing the carbon footprint with an equivalent amount of sequestered or offset greenhouse gases. Closed System A system with a closed loop, and is thought to be more sustainable because they are self-sus...

The nominal interest rate is: - not adjusted by inflation. There can be an efficient amount of a public good provided in the private market if producers can - Overcome the non-excludability of the good Public goods are goods that are: - Non-rival in consumption, and non-excludable Cost-benefit analysis is a way to: - rank projects according to their marginal net benefits. Suppose the government provides some amount of a public good, but it results in a reduction of privat...

Primavera Economics Unit 3 Exam 2023/2024 Rated A+ Which type of competition is characterized by differentiated products? Monopolistic competition. Look at the table. [Table.] What explains the change in quantity demanded, from 12 to 24, as the price decreases? Consumers will buy more at lower prices. When an even number of points exists in a set, how do you find the median? You find the mean of the two points in the middle of the set. What does a low price signal about a potential producer/s...

ECON 102 Exam 1 Latest Update 100% Pass Economic Analysis People making decisions economic wat of thinking Choices: Costs and Benefits Performing a certain economic action will increase our well-being if the benefits are greater than the costs (choices are the result of scarcity) Self Interest The pursuit of one's own goals (does not always mean increasing one's wealth; could also include prestige, friendship, love, and feeling good) Rationality Assumption The assumption that people do not ...