Saint Leo University
Directions: Define each of the term below and evaluate the significance of each term to the topics presented within the textbook.Chapter 5TermDefinitionSignificanceMarket failure?Externality ?Third parties?Property rights?Effluent fee?Antitrust legislation?Monopoly ?Private goods?Principle of rival consumption ?Public goods?Free-rider problem?Government-sponsored good?Government-inhibited good?Transfer payments?Transfer in kind?Collective decision making?Theory of public choice?Incentive structure?Government or political goods?Majority rule?Proportional rule?Chapter 19Price elasticity of demand?Elastic demand?Unit elasticity of demand?Inelastic demand?Perfectly inelastic demand?Perfectly elastic demand?Cross price elasticity of demand?Income elasticity of demand?Price elasticity of supply ?Perfectly elastic supply ?Perfectly inelastic supply ? ................
................
In order to avoid copyright disputes, this page is only a partial summary.
To fulfill the demand for quickly locating and searching documents.
It is intelligent file search solution for home and business.