Market Failures and Structures

Quiz
•
Social Studies
•
11th Grade
•
Medium
Wayground Content
Used 9+ times
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20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the free rider problem?
scarcity even when you pay for a good
Reaping all the benefits without contributing
Common goods that don't have a price
HyDEEE never pays for gas
2.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Which of the following industries is an example of a monopoly?
utilities/water
department stores
auto industry
commercial airlines
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Negative externalities can be best described as
When the consumption/production of a good or service has a negative impact on a third party
When the consumption/production of a good or service has any impact on a third party
When the consumption/production of a good or service has a positive impact on a third party
When the consumption/production of a good or service depletes the access for a third party
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT an example of a public good?
Fireworks display
National Defense
Public transportation
Lighthouse
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Tragedy of the _____ is the idea that common goods that everyone has access to are often misused and exploited.
Commons
Exceptions
People
Oligarchs
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a positive externality resulting from an outdoor band concert?
An elderly woman in her apartment hears a song that she liked as a child.
A pair of endangered birds leave their nest in a nearby tree when the concert starts.
A pizza parlor closes early, because all of its customers are at the concert.
A traffic jam occurs as drivers hunt for parking spots near the concert.
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