Market Failures and Externalities

Market Failures and Externalities

11th Grade

25 Qs

quiz-placeholder

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Market Failures and Externalities

Market Failures and Externalities

Assessment

Quiz

Social Studies

11th Grade

Practice Problem

Hard

Created by

Desiree Campos

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25 questions

Show all answers

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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