IAL Economics Chapter 15
Authored by LEO SKLIAR
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11th Grade
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12 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are consumption externalities?
When the social costs of consumption are different from the private costs of consumption
When the social benefits of consumption are different from the private benefits of consumption
When the social costs of production are different from the private costs of production
When the social benefits of production are different from the private benefits of production
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an externality or spillover effect?
The difference between social costs and benefits and private costs and benefits
The difference between social benefits and private benefits
The difference between social costs and private costs
The difference between social benefits and private costs
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does marginal analysis focus on?
Large changes in an economic variable such as cost or output
Steady-state changes in an economic variable such as cost or output
Incremental changes in an economic variable such as cost or output
Fluctuating changes in an economic variable such as cost or output
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are marginal social and private costs and benefits?
The social and private costs and benefits of the first unit either produced or consumed
The social and private costs and benefits of the last unit either produced or consumed
The social and private costs and benefits of all units produced or consumed
The social and private costs and benefits of the average unit produced or consumed
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are negative consumption externalities?
When social benefits are less than private benefits
When social costs are less than private costs
When social benefits are greater than private benefits
When social costs are greater than private costs
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a negative externality or external cost?
When net social cost is greater than net private cost
When net social cost is less than net private cost
When net social benefit is greater than net private benefit
When net social benefit is less than net private benefit
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are negative production externalities?
When social benefits exceed private benefits
When social costs exceed private costs
When social benefits are less than private benefits
When social costs are less than private costs
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