
Chpt. 7 Econ
Authored by Jennifer Okamoto
Social Studies
12th Grade
Used 8+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
under perfect comprtition, what sets the equilibrium price in the market?
nonprice compettition
supply and demand
the government
a monopoly
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
pure comprtition and monopoly
are the same
are almost the same
should not be compared
are opposites
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
in the economic term oligopoly the word part olig probably means
few
single
all
one
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
which of the folloing factors contribute to market failure
adequate competition
knowledge of prices and opportunities
mobility of resources
inadequate competition
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
which is a good example of a publis good
a rock band
a car
the army
bread
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
when a factory pollutes a river, the resulting water poolution is an example of a
technological monopoly
public good
negative externality
neutral spillover effect
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
how would an economist characterize a local government increasing property taxes to improve the school system
laissez-faire in action
an example of collusion
a cease and desist order
subsidizing a positive externality
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