CBSE Class 12-science Answered
Q1. What is FREE RIDER problem ???
Q2. Which are (non - viable) industry ??
Q3. If we are said to write ( law of return)) then we would write modern law : increasing
deminishing
negative OR
return to factor : increasing , constant nd deminishing ?
Asked by Eng.surinder.singh | 24 Mar, 2018, 03:53: PM
Expert Answer
Free rider problem
A person one who receive benefit from goods and services at free of cost as they do not pay for it which leads to under provision of those goods and services. For example, public goods like public park used by an individual who already paid for those services. The problem of free rider arises at the time when one uses the public goods many times than the others without paying for it.
Non viable industry
An industry for which supply curve lies above the dd curve as price is too high for the consumers. This is because when the price at which producers are ready to produce is too high that the consumers are not willing to buy not even a single unit. Hence the product is not produced. Kindly post the question individually.
Answered by Tharageswari S | 25 Mar, 2018, 10:15: AM
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