U2L3a HW Econ on Quizizz

U2L3a HW Econ on Quizizz

9th - 12th Grade

20 Qs

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U2L3a HW Econ on Quizizz

U2L3a HW Econ on Quizizz

Assessment

Quiz

Business

9th - 12th Grade

Practice Problem

Easy

Created by

Darek Tillman

Used 1+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Media Image

The government should get involved in the economy to ensure worker safety through laws. What is the role of these laws?

To protect workers from unsafe working conditions

To increase government revenue

To promote international trade

To reduce government spending

2.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Media Image

The government should get involved in the economy when:

there is a need to regulate industries like barber shops through licenses.

the economy is performing well without any issues.

private businesses are thriving without any government support.

there is no need for any regulations or licenses.

3.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

The government should get involved in the economy when:

there is a need to regulate monopolies.

the market is perfectly competitive.

there is no unemployment.

inflation is at 0%.

4.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

What is a market failure?

A situation where the allocation of goods and services is not efficient

A situation where the market operates perfectly

A situation where there is no government intervention

A situation where supply always meets demand

5.

OPEN ENDED QUESTION

15 mins • 1 pt

What is one of the four market failures?

Evaluate responses using AI:

OFF

6.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Explain the concept of public goods as a market failure.

Public goods are non-excludable and non-rivalrous, leading to underproduction in a free market.

Public goods are excludable and rivalrous, leading to overproduction in a free market.

Public goods are non-excludable and rivalrous, leading to efficient production in a free market.

Public goods are excludable and non-rivalrous, leading to underproduction in a free market.

7.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Externalities in the context of market failures are:

unintended side effects that affect third parties

government interventions in the market

price controls imposed by authorities

natural monopolies

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