Vaccinating people for measles, rubella, polio and cholera to substantially increase net social benefits by improving the health and productivity of the population is an example of ?
Correct answer: B. external economies
- A. economies of scale
- B. external economies
- C. negative externality
- D. net present value
Explanation
Vaccination protects both the individual and other members of society by reducing disease transmission, creating a positive externality. Such benefits are also called external economies.
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Government revenue and expenditure are analysed through taxation, public borrowing, budgets, subsidies, transfers and public debt. The topic explains how fiscal policy affects resource allocation, income distribution, economic stability and growth, while distinguishing direct from indirect taxes, progressive from regressive taxation, and public goods from goods supplied by private markets.
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