Merit/Demerit, Public/Private, Consumer/Producer Surplus

Merit/Demerit, Public/Private, Consumer/Producer Surplus

Assessment

Flashcard

Social Studies

10th Grade

Hard

Created by

Wayground Content

FREE Resource

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10 questions

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1.

FLASHCARD QUESTION

Front

Which of the following is a non-rivalrous good? a car, pizza, a hiking trail, a canoe

Back

a hiking trail

2.

FLASHCARD QUESTION

Front

A situation of market failure is said to exist if;

Back

third parties in society are affected and not compensated

3.

FLASHCARD QUESTION

Front

This is the fact that consumption of a public good cannot be confined to those who have paid for it.

Back

Non-excludable

4.

FLASHCARD QUESTION

Front

Products where social benefits to the community outweighs the private benefits to the consumer:

Back

Merit goods

5.

FLASHCARD QUESTION

Front

Which of the following is an example of a public good? A lighthouse, The public transport (bus or train), Water to homes, A coca cola

Back

A lighthouse

6.

FLASHCARD QUESTION

Front

Products that the government feels that people will under-consume and suppliers over supply:

Back

Merit goods

7.

FLASHCARD QUESTION

Front

Tend to have positive externalities

Back

Merit goods

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