Topics 9 and 10 Group Competition Quiz

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Business
•
University
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Medium

Neha Deo
Used 2+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Free riding can occur if a good is
a private good
excludable and nonrival
excludable and rival
nonexcludable and nonrival
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The ʺtragedy of the commonsʺ refers to
the absence of incentives to prevent the overuse of a common resource that arises when its users have no incentive to conserve it and use it sustainably.
the inability of lower income groups to achieve a higher level of education.
the tendency for bureaucrats to maximize their budget.
the acceptance of deplorable working conditions by those who lack the human capital to obtain a better job.
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
One way to alleviate the tragedy of the commons is to
make the resource private property.
distribute common resources among those individuals, who really need the resource, free of charge.
allow all individuals to use the resource free of charge.
set a price of $1 per unit of the common resource because it is an afforable price.
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
When an additional unit of output is produced, the extra cost to society is the
marginal private cost.
marginal external cost.
marginal social cost.
average total cost.
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Air pollution generated by a paper mill factory is an example of a
negative production externality
positive consumption externality
negative consumption externality
positive production externality
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
If a good is a public good,
anyone can be excluded from enjoying its benefits
consumers pay a low price
no one can be excluded from enjoying its benefits
economies of scale exist over the entire range of output for which there is demand
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Greenwashing is defined as
the act of informing consumers regarding the environmental practices of a company or the environmental benefits of a product or service.
the act of misleading consumers regarding the environmental practices of a company or the environmental benefits of a product or service.
the act of gaining consumers by marketing the environmental practices of a company or the environmental benefits of a product or service.
the act of excluding consumers resulting from the environmental practices of a company or the environmental harm a product or service causes.
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