Answer:
1. Net social cost
2. Costs
3. Greater than
4. Benefits
Explanation:
If a negative externality exists, then there is a net social cost when society produces the market output instead of the socially optimal output. This exists because the costs to sellers and third parties are greater than the benefits derived by buyers.
Answer: This statement is FALSE
Explanation:
Price Ceiling is the maximum price fixed by government , usually less than equilibrium price to make necessity goods affordable to max people.
Producer Surplus is the difference between prevailing price & minimum price needed to induce producers to supply . Diagramaticaly / Graphicaly , it is the vertical difference between supply curve & price level
Implying Ceiling Imposition , the price gets reduced . Assuming unchanged Supply curve , the difference between price & supply curve reduces .
Hence , Producer Surplus falls
Answer:
The answer to this question is option c.System evaluation.
Explanation:
The four essential elements of a project are as following:-
- Project Management:-The project management should be perfect because they are the ones who are going to manage the project.
- Project team:-The project team should be skillful people handpicked by the management so they can work efficiently on the project with good teamwork.
- Common project vocabulary:-Common terms used in projects like issues,requirements,scope etc.
- Project Cycle Plan:-It is the plan which shows how the project will proceed in future.
Hence the answer to this question is c.System information because it is not one of the four major elements of the project.