Global MCQ Practice

🌐 Total MCQ
Home > Economics > Microeconomics > Failures > Market Failures – Quiz 1
🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books

Market Failures Quiz 1 (25 MCQs)

Quiz Instructions:

Select an option to see the correct answer instantly.

1. What is Internalizing the Externality?
2. How much will the UK economy shrink by in 2023?
3. Rival in consumption & not excludable
4. A positive externality will cause a market to produce _____
5. The ability of a firm or a group of firms to control the price of the product they sell
6. Products where social benefits to the community outweighs the private benefits to the consumer:
7. A congested road is an example of
8. Complete market failure always exists when
9. Above-equilibrium wages paid by firms to increase worker productivity
10. The federal government's role in providing aid to the poor and the aged is justified because of concerns about
11. We may minimize market failure related to a public good by:
12. An economic good is one which
13. Is competition among restaurants in big cities a good example of monopolistic competition?
14. A pure public good is always
15. A good is excludable if
16. Tend to have positive externalities
17. How principals may respond to the principal-agent problem
18. The price you pay for a security system for your home
19. What government agency is designed to oversee mergers between companies to ensure fair competition in a market?
20. What is the key to how the market economy works
21. A measure of happiness or satisfaction
22. _____ are the benefits of a production and consumption enjoyed by a firm, individual or a government.
23. This is the fact that consumption of a public good cannot be confined to those who have paid for it.
24. Excludable & Rival in consumption
25. When a price of a good doubles the demand falls by more than half, and the revenue received by the seller falls. What does this suggest about the good?
Next →

Related Quizzes

🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books