EPF Module 4 Test Review

EPF Module 4 Test Review

9th - 12th Grade

•

30 Qs

quiz-placeholder

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EPF Module 4 Test Review

EPF Module 4 Test Review

Assessment

Quiz

•

Life Skills

•

9th - 12th Grade

•

Hard

Created by

Tracee McDonald

Used 2+ times

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30 questions

Show all answers

1.

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

2.

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

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The following statements are true of government regulations except

They limit economic freedom
They seek to limit negative externalities
They exist to protect consumers
They are always popular with private businesses

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is not an example of a government safety net?

Unemployment Insurance
Social Security
Consumer Safety 
Medicaid

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Government regulations exist to

Increase economic freedom
Protect consumers from negative externalities
Punish people who intervene in the free market
Provide incentives to privatize

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is not an example of a publicly owned industry intended to provide goods and services more efficiently to the public?

Postal service

Public transportation

Airline industry

Utilities such as gas, water, electric

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Market failures occur when

the accumulation of wealth in the free market is shared between a large group of people

a command economy increases production

the economy has a strong GDP and low interest rates

the distribution of goods and services in the free market is not efficient and leads to loss of social wellbeing

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