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Who bears a private cost?

A

Consumers buying the final product pay it directly.

B

Third parties outside the transaction pay it directly.

C

The government regulating the activity pays it directly.

D

The decision-maker undertaking the activity pays it directly.

Card 1 of 25

7.4.1 definition and calculation of social costs (SC) as the sum of private costs (PC) and external costs (EC) Flashcards

  1. Intl A Level
  2. /Economics
  3. /7.4.1 definition and calculation of social costs (SC) as the sum of private costs (PC) and external costs (EC)

25 flashcards on CIE Intl A Level Economics 7.4.1 definition and calculation of social costs (SC) as the sum of private costs (PC) and external costs (EC): the key terms and definitions you need to recall.

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