Deadweight loss flashcard sets flashcards and study tools

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deadweight loss definitions
#	Definition	Sets
1	the fall in total surplus that results from a market distortion, such as a tax	6 sets
2	the reduction in economic surplus resulting from a market not being in competitive equilibrium.	3 sets
3	the net loss of producer and consumer surplus from underproduction or overproduction.	2 sets
4	the reduction in economic surplus that results from adoption of a policy	2 sets
5	the loss in societal welfare associated with production being too little or too great	1 set
6	loss of gains from production and trade the result from the tax	1 set
7	loss in consumer and producer surplus de to inefficiency because some transaction cannot be made and therefore their value to society is lost.	1 set
8	the loss of consumer and producer surplus from a tax.	1 set
9	the fall in total surplus that results from a market distortion such as a tax	1 set
10	a loss to the consumer or producer that is not transferred to another party	1 set
11	lost social surplus, occurs when binding controls are in place	1 set
12	monopolies produce less than the socially efficient level of output	1 set
13	total loss of producer and consumer surplus due to over or under production	1 set
14	the fall in total surplus that results from a market distortion, such as a tax.	1 set
15	the decrease in total surplus that results from an inefficient underproduction or overproduction	1 set
16	the loss of consumer and producer surplus from a tax	1 set
17	deadweight loss caused by a policy is the reduction in economic surplus that results from adoption of that policy.	1 set
18	the loss in total surplus that occurs whenever an action or a policy reduces the quantity transacted below the efficient market equilibrium quantity	1 set
19	loss of consumer surplus not transferred to another group in the country but lost through inefficient domestic production	1 set
20	loss of consumer and producer surplus from a tax	1 set
21	fall in ts due to market distortion from tax	1 set
22	the reduction in economic surplus resulting from a market not being in competitive equilibrium	1 set
23	reductions of combined consumer and producer surplus associated with underproduction or overproduction of a product	1 set
24	inefficiency that results because the tax discourages mutally beneficial trade [wedge tax]	1 set
25	the welfare losses due to a distortion such as the imposition of a tariff	1 set
26	the reduction in total economic surplus that results from the adoption of a policy (price elasticity of demand & supply = inelastic = smaller dead weight loss)	1 set
27	cause by a policy is the reduction in economic surplus that results from adoption of that policy	1 set
28	the net loss of producer and consumer surplus from underproduction or overproduction	1 set
29	the fall in total surplus that results when a tax (or some other policy) distorts a market outcome.	1 set
30	reduction in economic surplus that results from adoption of that policy	1 set
31	reduction in total economic surplus that results from adopting a policy	1 set
32	the net loss of producer and consumer surplus from underproducion or overproduction	1 set
33	caused by taxes, part of economy that now no one receives (see notes)	1 set
34	the fall in total surplus that reults from a market distortion, such as a tax	1 set
35	a loss of efficiency due to a tax or subsidy	1 set
36	the loss in producer and consumer surplus due to an inefficient level of production. (7; 10)	1 set
37	reduction in economic surplus resulting from a market not being in equilibrium	1 set
38	the fall in total surplus that results from a market distorion, such as a tax	1 set
39	net loss of total surplus	1 set
40	the total loss of producer and consumer surplus from underproduction or overproduction	1 set

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