
Externalities Quiz
Quiz
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Other
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11th Grade
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Practice Problem
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Medium
Tamara Junaedy
Used 2+ times
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11 questions
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1.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Give an example of a positive externality.
Traffic congestion
Pollution
Vaccination
Education
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a negative externality?
A negative externality is a cost that is suffered by the seller as a result of an economic transaction.
A negative externality is a cost that is suffered by a third party as a result of an economic transaction.
A negative externality is a cost that is suffered by the buyer as a result of an economic transaction.
A negative externality is a benefit that is enjoyed by a third party as a result of an economic transaction.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Provide an example of a negative externality.
Second-hand smoke from a smoker affecting non-smokers nearby
Noise pollution from a construction site disturbing nearby businesses
Pollution from a factory affecting nearby residents
Chemical waste from a factory contaminating a nearby river
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do positive externalities affect market equilibrium?
Positive externalities have no effect on market equilibrium.
Positive externalities cause an overallocation of resources in the market.
Positive externalities cause an underallocation of resources in the market.
Positive externalities cause a decrease in demand in the market.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do negative externalities impact market efficiency?
Negative externalities improve market efficiency.
Negative externalities cause market inefficiency.
Negative externalities only impact certain industries, not overall market efficiency.
Negative externalities have no impact on market efficiency.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Explain the concept of external costs.
External costs are costs that are not directly borne by the parties involved in a transaction or activity, but instead are passed on to society as a whole.
External costs are costs that are not relevant to economic transactions.
External costs are costs that are only borne by the government.
External costs are costs that are directly borne by the parties involved in a transaction or activity.
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Refer to the image. Given the position of the marginal social cost curve, one can conclude that
production of good X creates a negative production externality.
production of good X creates a negative consumption externality.
production of good X creates a positive production externality.
production of good X creates a positive consumption externality.
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