Subsidies Eco opt2

Quiz
•
Business, Other
•
KG - Professional Development
•
Medium

Adnan Afzal
Used 14+ times
FREE Resource
6 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a subsidy?
Direct payments made by Producers to the Consumers
Direct payments made by Government to the Producers
Direct payments made by Government to the Consumers
Direct payments made by Government to the Stakeholders
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why does the government give subsidies?
To reduce negative externalities in a market
To increase consumption of merit goods
To increase the interest rate
To reduce travel costs
3.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which 2 of the following are advantages of subsidies?
Reduces the price of raw materials
Reduces producer's cost of production
Increases production/output
Increases consumer's income
4.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
The government grants subsidy to producers. What are the 2 effects of this?
Price changes from P1-P
Quantity changes from Q-Q1
Quantity changes from Q1-Q
Price changes from P-P1
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
When PED<1,a subsidy will reduce cost of production AND prices which will result in...a 1._________ percentage change in 2.________
1.Greater, 2.Price
1.Lower, 2.Demand
1.Greater, 2.Demand
1.Lower, 2.Price
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
One effect of the subsidy is to increase:
Market Failure
Consumer surplus
Tax revenue
Producer surplus
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