Market failure - Externalities
Flashcard
•
Social Studies, Business
•
11th - 12th Grade
•
Practice Problem
•
Easy
Used 1+ times
FREE Resource
Student preview

13 questions
Show all answers
1.
FLASHCARD QUESTION
Front
Market failure is least likely in a situation with many producers competing.
Back
many producers compete in the market
2.
FLASHCARD QUESTION
Front
True statement about externalities:
Back
From society's view, output of goods with positive externalities is too low.
3.
FLASHCARD QUESTION
Front
Market failure occurs when:
Back
Third parties are affected and not compensated.
4.
FLASHCARD QUESTION
Front
Social costs > Private costs indicates:
Back
Negative externality
5.
FLASHCARD QUESTION
Front
Free market outcome: MPB, MPC, Qm, Pm; Social optimum: MSB, MSC, Qopt, Popt.
Back
MPB; MPC; Qm; Pm; MSB; MSC; Qopt; Popt
6.
FLASHCARD QUESTION
Front
In a market with positive externalities:
Back
All benefits are not internalized.
7.
FLASHCARD QUESTION
Front
When there is a negative production externality, the free market overallocates resources to the good, producing too much relative to the social optimum. This is shown by Qm > Qopt and MSC > MSB.
Back
negative; overallocate; much; Qm > Qopt; MSC > MSB
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple
Others
Already have an account?
Similar Resources on Wayground
10 questions
Supply and Demand
Flashcard
•
9th - 12th Grade
15 questions
Investing Review
Flashcard
•
11th - 12th Grade
15 questions
Follow Up - Assessment
Flashcard
•
KG
13 questions
M3L4 PRACTICE FLASHCARD
Flashcard
•
11th Grade
10 questions
Cost of Capital Flashcard
Flashcard
•
University
8 questions
BAIB3004 Week 3 Lecture Recap Flashcards
Flashcard
•
University
15 questions
Gilded Age STAAR Review
Flashcard
•
11th Grade
10 questions
Supply and Demand
Flashcard
•
9th - 12th Grade
Popular Resources on Wayground
7 questions
History of Valentine's Day
Interactive video
•
4th Grade
15 questions
Fractions on a Number Line
Quiz
•
3rd Grade
20 questions
Equivalent Fractions
Quiz
•
3rd Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
22 questions
fractions
Quiz
•
3rd Grade
15 questions
Valentine's Day Trivia
Quiz
•
3rd Grade
20 questions
Main Idea and Details
Quiz
•
5th Grade
20 questions
Context Clues
Quiz
•
6th Grade
Discover more resources for Social Studies
5 questions
Trigger Events of the 1850's
Interactive video
•
11th Grade
6 questions
Dred Scott Reading Quiz
Passage
•
11th Grade
16 questions
USHC 4.8 Immigration and Urbanization
Quiz
•
9th - 12th Grade
15 questions
Imperialism Quizizz
Quiz
•
11th Grade
10 questions
Trigger Events of the Civil War
Flashcard
•
11th Grade
15 questions
Renaissance & Reformation Benchmark
Quiz
•
9th - 12th Grade
18 questions
French Revolution
Quiz
•
8th - 12th Grade
64 questions
USHC 4 Key Terms 22-23
Quiz
•
11th Grade - University