Exploring the range of specialized areas within microeconomics, including industrial organization, labour economics, public economics, health economics, and urban economics.
Understanding the Economics of Local Public Goods, their types, historical context, and importance. Learn about key events, mathematical models, applicability, examples, related terms, interesting facts, and more.
The concept of Marginal Social Cost (MSC) explains the increase in social cost due to a marginal increase in an activity, encompassing all external effects.
Merit goods are services and products provided by the government to enhance welfare and generate positive externalities such as education and health services.
A comprehensive overview of negative externalities, their implications, types, historical context, mathematical models, and real-world examples. Explore their significance and discover how they shape economic policies.
Proprietary funds are used for government activities that operate similarly to private businesses, such as utilities, providing a detailed understanding of their purpose, types, examples, and operational characteristics.
An in-depth exploration of social cost, including its definition, significance, types, key events, detailed explanations, and examples. A comprehensive guide to understanding the complete cost of any activity, including private and external costs.
Collective goods are goods consumed simultaneously by multiple consumers, such as streets, roads, police protection, fire protection, and national defense. These goods are provided by the government as they cannot be efficiently priced or quantified by markets.
