Understanding Externalities Quiz

Understanding Externalities Quiz

11th Grade

20 Qs

quiz-placeholder

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Understanding Externalities Quiz

Understanding Externalities Quiz

Assessment

Quiz

Social Studies

11th Grade

Practice Problem

Easy

Created by

Cavin Dennis Tito Siregar

Used 4+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is an externality?

A cost or benefit that affects only the producer

A cost or benefit incurred by a third party due to an economic transaction

A payment made by the government to firms

The price of goods in a competitive market

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is an example of a negative externality?

Improved public health from vaccinations

Air pollution caused by a factory

Increased property value due to a new park

Profits earned by a private business

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a positive externality?

A benefit enjoyed exclusively by producers

A benefit that spills over to third parties

An unintended cost imposed on society

A surplus in government revenue

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of these is NOT a characteristic of externalities?

They are not reflected in market prices

They only involve private costs and benefits

They can be positive or negative

They lead to market failure

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What happens when negative externalities are not addressed?

The market produces the socially optimal quantity

The market produces more than the socially optimal quantity

Producers incur higher private costs

Consumers experience only positive benefits

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is an example of a positive externality in education?

Lower tuition fees for students

Increased earnings for graduates

A more educated workforce that benefits society

Higher profits for private schools

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

How can governments address negative externalities?

By providing subsidies

By imposing taxes

By reducing market demand

By eliminating competition

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