
Private and Social Costs Quiz
Authored by Cavin Dennis Tito Siregar
Social Studies
11th Grade
Used 5+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What are private costs?
Costs paid by the government
Costs incurred directly by producers or consumers
Costs imposed on third parties
Costs unrelated to production
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is an example of a private benefit?
Cleaner air due to reduced emissions
Higher profits earned by a business
Reduced congestion from public transportation
Improved public health
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What are external costs?
Costs borne by producers
Costs imposed on third parties due to an economic activity
Costs related to production only
Costs covered by consumers
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of these is an example of an external benefit?
A student gains skills from education
A more educated workforce benefits society
A company increases its profits
A factory reduces its production costs
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What are social costs?
Private costs plus external costs
Costs covered by the government
Costs unrelated to production
Private costs minus external costs
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What are social benefits?
Private benefits minus external benefits
Private benefits plus external benefits
Benefits received only by producers
Benefits unrelated to consumption
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What happens when external costs are ignored in decision-making?
Resources are allocated efficiently
Markets produce more than the socially optimal quantity
Producers incur higher costs
Social benefits decrease
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