Market Failure
What are the two outcomes of asymmetric information on the market?
Adverse selection
Moral Hazard
What two types of capital do we have in the company?
Physical
Financial
Name 3 types of price discrimination you know.
age, gender, geographical distance, time, type of consumers...
What are the sources of money for the safety net of the welfare state
taxes
what do we call the global benchmark (threshold) used to measure poverty among countries?
poverty line
Give one example of a merit good and following positive externality of consumption
education - innovations...
vaccination - herd imunity...
What is capital? The definition...
All manufactured products that are used to produce goods and services
First degree of discrimantion - what is it and give example...
each consumer pays different price ...auction, bazaar...
List at least 1 tool of redistribution of income...
Structural policies
Taxation
Subsidies
How much is current international poverty line?
3 dollars /day
give one example of negative externality of production
pollution of a factory, emissions of cars
What are dividends, when can you receive them?
Dividends are a result of the ownership of the company
Second degree of price discrimination = different price for consumers depending upon....?
...how much they purchase.
What is the different of cash benefits and benefits in kind?
Cash benefits - you receive money directly
Benefits in kind - free transportation, free meals at school
the condition where the individual or household lacks the minimum resources necessary for basic physical survival is called?
Absolute poverty
What are the 4 basic types of goods?
Public
Private
Club
Common
Present value approach - what do you know about money in the course of time?
Money today is worth more than money in the future...
What is the discrimination based on geographical distance?
Firms sell products in different regions at different prices.
How can be a legislation used to redistribute the income in society? What laws help poorer people?
anti-discrimination laws
minimum wage
List one example of a safety net that offers Slovak republic
parental allowance, maternity leave, material need allowance
What kind of good is the toll payed for the highway
What type of financial source of the company can be used beside shares, bonds and a bank loan?
retained profit from previous years
What conditions are necessary to be present in order for producer to be able to discriminate? Determine at least 1.
- different price elasticities of demand
- imperfect markets - price setting ability
- ability to separate consumers
List one structural policy used for reduction of ec. inequalities:
widening participation of higher education
promoting worker share ownership
encouraging industries into areas with high unemployment
the provision of creche facilities
The most unequal country in the world is...
South Africa