WorksheetsSUPA Chapter 9 Microeconomics
Total questions: 15
Worksheet time: 8mins
What is a Monopoly?
There's only one buyer in a market
There's only one seller in a market
A popular board game
Both A and B
What is a Monopsony
There's only one seller in the market
There's only one buyer in the market
Neither A nor B
Both A and B
What is a Natural Market
Nothing
When a powerful company buys a smaller one to maintain power
When the scales of an economy derive form the nature of the production process
A supermarket
What is an Artifically created market
When an established company buys a smaller one to maintain power
Rent-control activity
When a new company emerges from fraud
When the scales of an economy derive from the nature of the production process
What is Scale
The size of production
A measurement of currency
An inelastic good
Low on the preference order
Which type of scale would have a proportionally SMALLER output when increasing the input
Increasing
Constant
Decreasing
Choice 1
What Association would be an example of rent seeking activity where they pay politicans to maintain power
NRA
DNA
LLC
FDIC
Which case(s) demonstrates market failure
A negative externality
A positive externality
Both choices 1 and 2
Neither Choices 1 nor 2
What is a problem with Public goods
They are available to my annoying cousin
They have a free rider problem
They are available to Winona Ryder
THE FIRST CHOICE #thanksgivingsoon
Free RIder System
Ordinary person CONSTANTLY pay for a good to use it
Ordinary person NEVER pays for a good to use it
Ordinary person SOMETIMES pays for it
Free form of surfing in San Diego, California
Assigning Property rights would help prevent externalities
TRUE
FALSE
Externalities
Unintentional side effects from an action
Intentional side effects to screw over someone
Internationally effecting the GDP of Sweden
Nala's new chew toy
Example of a Positive externality
POLLUTION
VACCINE
KARL
PABLINHO
Example of a negative externality
POLLUTION
VACCINE
NICK WASHINGTON (49th president of the US)
The Matt M's
BONUS: Which person lived in the state with the largest economy in the United States
Georgia (Henry Herman)
Washington (Kamal)
California (Pentikis)
Phillip (New York)
