reduces producer surplus

reduces consumer surplus

increases both consumer and producer surplus

reduces both consumer and producer surplus

supplying bottled water to households in need

purchasing a plane for the military

providing income to unemployed individuals

veteran's benefits

the benefits-received principle of taxation.

government bureaucracy and inefficiency.

the principle of limited and bundled choice.

the ability-to-pay principle of taxation.

increased taxes

decrease in resource prices

increased subsidies

improved technology

the tendency of the government and resource suppliers, seeking to further their own self-interest, will simultaneously promote the public or social interest.

the tendency of firms and resource suppliers, seeking to further their own self-interest, will simultaneously promote the public or social interest.

the tendency of firms and resource suppliers, seeking to further their own self-interest, will simultaneously devalue the public or social interest.

the tendency of firms and the government agencies, seeking to further their own self-interest, will simultaneously promote the public or social interest.

market economy and determinants of demand

self-interest, specialization of labor, & limited government

division of labor and market equilibrium

self-interest and market equilibrium

shortage, decrease, increase

shortage, increase, increase

shortage, increase, decrease

shortage, decrease, decrease

price will increase, quantity supplied will increase, and quantity demanded will increase

price will increase, quantity supplied will increase, and quantity demanded will decrease 

price will decrease, quantity supplied will increase, and quantity demanded will decrease 

price will increase, quantity supplied will decrease, and quantity demanded will decrease 

tools

machinery

money

factories