S2W10

S2W10

8th Grade

17 Qs

quiz-placeholder

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S2W10

S2W10

Assessment

Quiz

Other

8th Grade

Practice Problem

Easy

Created by

EconPALS Committee

Used 3+ times

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17 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Aladdin is struggling to match up the following definitions. Help him match the 3 different solutions to overcoming externalities. (The next 2 questions are a continuation of this question)

Coase Theorem

Implementing direct fees to the externality

Use taxes (or subsidies) to align the private and social costs (or benefits) by internalising externalities

We can reach the social optimum by assigning enforceable property rights and allowing the market to take over

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Pigouvian Taxes

Implementing direct fees to the externality

Use taxes (or subsidies) to align the private and social costs (or benefits) by internalising externalities

We can reach the social optimum by assigning enforceable property rights and allowing the market to take over

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Emission Fees

Implementing direct fees to the externality

Use taxes (or subsidies) to align the private and social costs (or benefits) by internalising externalities

We can reach the social optimum by assigning enforceable property rights and allowing the market to take over

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Aladdin is further struggling with economic terminology and is struggling to match up the following. Help him match up the phenomena that you might encounter with chocolate to the Economic theory they represent.

The next three questions are a continuation of this one.

Positive Externality

You and your friends fail to locate the lost egg on the easter egg hunt

The easter bunny running around at night stops you from sleeping.

You buying chocolate for the flat makes everyone happy

The easter bunny eats all of the carrots in the field so there are none for the normal bunnies

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Negative Externality

You and your friends fail to locate the lost egg on the easter egg hunt

The easter bunny running around at night stops you from sleeping.

You buying chocolate for the flat makes everyone happy

The easter bunny eats all of the carrots in the field so there are none for the normal bunnies

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Tragedy of the Commons

You and your friends fail to locate the lost egg on the easter egg hunt

The easter bunny running around at night stops you from sleeping.

You buying chocolate for the flat makes everyone happy

The easter bunny eats all of the carrots in the field so there are none for the normal bunnies

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Social Suboptimum

You and your friends fail to locate the lost egg on the easter egg hunt

The easter bunny running around at night stops you from sleeping.

You buying chocolate for the flat makes everyone happy

The easter bunny eats all of the carrots in the field so there are none for the normal bunnies

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