Government intervention and market failure

Government intervention and market failure

9th - 12th Grade

•

35 Qs

quiz-placeholder

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Government intervention and market failure

Government intervention and market failure

Assessment

Quiz

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Other

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9th - 12th Grade

•

Medium

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35 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 20 pts

What are the characteristics of public goods?

Excludable and rival

Non-excludable and non-rival

Excludable and non-rival

Non-excludable and rival

2.

MULTIPLE CHOICE QUESTION

30 sec • 20 pts

What is a free rider in the context of public goods?

Someone who consumes the product without paying for it

Someone who produces the public good for free

Someone who rejects the public good

Someone who overvalues the public good

3.

MULTIPLE CHOICE QUESTION

30 sec • 20 pts

What is the purpose of setting a maximum price control?

To stabilize the price

To increase the income of producers

To make it more affordable for the poor

To discourage consumption

4.

MULTIPLE CHOICE QUESTION

30 sec • 20 pts

What is the purpose of a government subsidy?

To encourage consumption

To raise revenue

To discourage consumption

To stabilize the price

5.

MULTIPLE CHOICE QUESTION

30 sec • 20 pts

What is the main disadvantage of a minimum price control?

Stabilizes the price

Creates a surplus

Makes it less accessible to the poor

Encourages over-consumption

6.

MULTIPLE CHOICE QUESTION

30 sec • 20 pts

What is the purpose of government regulation?

To influence people's behavior

To stabilize the price

To raise revenue

To discourage consumption

7.

MULTIPLE CHOICE QUESTION

30 sec • 20 pts

What is the potential downside of government intervention?

Increase economic efficiency

May have unexpected effects

Easy to enforce

Motivated by political popularity

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