Flashcards
Government intervention definitions
Cards in this deck (6)
- 1Subsidiesgovernment grant to give the effect of a reduction in production costs
- 2Maximum pricea price, usually set by the government, which makes it illegal for firms to sell the product for more than a certain price
- 3Minimum pricea price, usually set by the government, which is guaranteed to producers
- 4tradeable pollution permitsrights to buy and sell actual or potential pollution in artificially created markets
- 5property rightsownership rights
- 6government failurewhen government intervention results in a net welfare loss
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- 1.4 Government intervention definitions flashcards - Edexcel A level Year 1
- Created by
- Jesse McNab · May 2018
- Updated
- May 28, 2018
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