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7 Cards in this Set
- Front
- Back
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Front (Term) Sustainable Dev |
Back (Definition) development which enables future generations go access resources for further development |
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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. |
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Front (Term) Eqm price |
Back (Definition) where Q supplied = Q demandef |
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Subsidy |
Gov grant paid to firm. -> decrease business cost -> shift S out -> reduce mkt price & increase output -> increase both CS and PS |
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Tax |
Compulsory charge placed on expenditure. -> increase CoP -> decrease S, decrease D -> smaller CS & PS -> help internalise externalities |
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Unit tax |
set as fixed amount per unit of good |
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Ad Valorem |
set as a % of the price of the good |
