
Market Failures and Externalities
Quiz
•
Social Studies
•
11th Grade
•
Practice Problem
•
Hard
Desiree Campos
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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a market failure?
A situation where markets operate perfectly.
When the market fails to allocate resources efficiently.
When the government controls the market.
A situation where there is no demand for a product.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a positive externality?
Pollution from a factory.
Noise from a construction site.
Planting trees that improve air quality.
Traffic congestion.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a negative externality?
A benefit received by someone outside of an activity.
A cost imposed on others not involved in an activity.
A tax imposed by the government.
An increase in market efficiency.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is an example of a negative externality?
Clean parks that increase nearby property values.
A vaccination that protects the community.
Secondhand smoke affecting nearby people.
Free public education.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an example of a positive externality?
Traffic congestion.
Free education raising the skill level in society.
Water pollution from factories.
Noise from loud music in a neighborhood.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a market failure occurs, who often steps in to correct it?
Businesses
Consumers
The government
Banks
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a common method for correcting negative externalities?
Giving rewards
Applying taxes or regulations
Removing property rights
Creating more externalities
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