Market Failure

Market Failure

9th - 12th Grade

14 Qs

quiz-placeholder

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Market Failure

Market Failure

Assessment

Quiz

Business, Other, Social Studies

9th - 12th Grade

Practice Problem

Medium

Created by

Susan Guan

Used 8+ times

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14 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 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

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

The benefits experience by the producer and/or consumer directly involved in an economic transaction.

Private costs

External costs

Private benefits

External benefits

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

The benefits received by third parties.

Private costs

External costs

Private benefits

External benefits

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

The negative effect received by third parties

Private costs

External costs

Private benefits

External benefits

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

The costs borne by the producer or consumer directly involved in a transaction

Private costs

External costs

Private benefits

External benefits

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The benefit your neighbor receives from hearing you play your pleasant music

Private costs

External costs

Private benefits

External benefits

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The annoyance of your neighbor because she doesn’t like your achingly conventional music

Private costs

External costs

Private benefits

External benefits

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