Characteristics of Goods, Public Goods, and Market Failures

Characteristics of Goods, Public Goods, and Market Failures

9th - 12th Grade

20 Qs

quiz-placeholder

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Characteristics of Goods, Public Goods, and Market Failures

Characteristics of Goods, Public Goods, and Market Failures

Assessment

Quiz

Life Skills

9th - 12th Grade

Hard

Created by

Tracee McDonald

Used 3+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

“Once a public good is produced, anyone can enjoy it, even those who did not pay for its consumption.” This statement describes which economic concept?

An absence of private property rights

Free-rider problem

Government Failure

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a public good?

Street Lights

The Army

Buses

Flood Control Systems

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Is public transport a public good?

Yes

No

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which best describes a public good?
A good provided by the government 
A good purchased by individuals
A good that exists only in a free market
A good that produces no externalites

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A market failure is best described as
The idea that market forces of supply and demand always provide the maximum benefit for society
The idea that market forces of supply and demand do not always provide the maximum benefit for society
The concept that a decision made by one party can have negative effects on another party
The concept that a decision made by one party can have positive effects on another party

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is not an example of a public good?
Legacy High School
Big Dry Creek Open Space
Target
Broomfield Water

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Private businesses cannot always provide goods and services
Profitably
Fairly
Safely
All of the above

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