What is Privatisation?

Government selling industries from public into private.

Action used for higher profits.

revenue minus implicit and explicit costs.

Normal Profit earned by a industry.

Total revenue minus explicit costs.

What are implicit costs?

The cost of exiting an industry.

The inverse relationship between price and quantity demanded.

Demand is how much people want of a certain good.

Money granted by the government to help an industry so that the price of a good to remain low or competitive.

Money given to a company by the government as a gift.

Money with a low interest rate.

Market cleaning point where there are no excesses or shortages.

Quantity of Elasticity Demanded

Quiz

bszapiro 10 Fragen

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1What is Privatisation?
1. AGovernment selling industries from public into private.
2. BGovernment buys businesses.
3. CAction used for higher profits.
2Colombia has the longest ongoing civil war of the globe. What type of statement is this?
1. ANegative
2. BNormative
3. CPositive
3What is
1. ANormal Profit earned by a industry.
2. BTotal revenue minus explicit costs.
3. Crevenue minus implicit and explicit costs.
4What are implicit costs?
1. AMonetary costs.
2. BOpportunity costs forgone.
3. CThe cost of exiting an industry.
5What does the law of demand state?
1. AThe inverse relationship between price and quantity demanded.
2. BDemand is how much people want of a certain good.
3. CThe opposite of supply.
6What are subsidies?
1. AMoney given to a company by the government as a gift.
2. BMoney with a low interest rate.
3. CMoney granted by the government to help an industry so that the price of a good to remain low or competitive.
7What is equilibrium in economics?
1. ABalance
2. BMarket cleaning point where there are no excesses or shortages.
3. CThe place in the middle.
8What does it mean when the answer for an XED question is negative?
1. AGoods are complementary
2. BGoods are supplementary
3. CGoods are Inelastic.
9What does YED stand for?
1. AElasticity
2. BIncome Elasticity of demand
3. CQuantity of Elasticity Demanded
10Which is not a reason for why PES is elastic in SR
1. AStock
2. BTime
3. CDependency