Welfare is improved when ‘the greatest good (is secured) for the greatest number’ is a statement given by

Related MCQs

• The concept of ‘Social Welfare Function’ was propounded by A. Bergson in his article ‘A Reformulation of Certain Aspects of Welfare Economics’ published in the year 1938
• A famous welfare economics book called, “Economics of Welfare” was written by
• Who defines economic welfare as “that part of social (general) welfare that can be brought directly or indirectly into relation with the measuring rod of money.”
• “Social welfare increases when transfer of real income from the rich to poor increases” is a statement given by
• The rate of discount which equilibrates the cost of capital good s and the expected future returns from the capital good is known as
• The concept of social optimum was introduced in Welfare Economics by
• According to Kaldor-Hicks compensation criteria, the proposed change will increase the social welfare if
• The concept of Social Welfare function was firstly introduced by
• The first condition of which economist states that welfare is said to increase when national income increases
• Social Welfare function is a function of