When welfare weights are introduced or shadow prices are further adjusted to reflect social goals,the process is known as:
A) Fabian socialism.
B) social project appraisal.
C) consumption coordination.
D) chain-weighted social-welfare benefit.

Question

Quizplus · Accepted Answer

The process of introducing welfare weights or adjusting shadow prices to reflect social goals is known as social project appraisal. It involves assessing the social benefits and costs of a project beyond the market prices and considering the impact on social welfare. This is done to ensure that projects are socially desirable and lead to the broader well-being of the community.

When Welfare Weights Are Introduced or Shadow Prices Are Further