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7 Cards in this Set

  • Front
  • Back

Front (Term)


Sustainable Dev

Back (Definition)


development which enables future generations go access resources for further development

Front (Term)


Sustain Resources

Back (Definition)


Resources which are used/produced at a rate which ensure it's availability for future generations. May be renewable and wont run out.

Front (Term)


Eqm price

Back (Definition)


where Q supplied = Q demandef

Subsidy

Gov grant paid to firm.


-> decrease business cost


-> shift S out


-> reduce mkt price & increase output


-> increase both CS and PS

Tax

Compulsory charge placed on expenditure.


-> increase CoP


-> decrease S, decrease D


-> smaller CS & PS


-> help internalise externalities

Unit tax

set as fixed amount per unit of good

Ad Valorem

set as a % of the price of the good