Market Failure Mastery

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Test your understanding of market failure concepts.

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Montex

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Market Failure Mastery


Froggy Jumps Market Failure MasteryVersión en línea Test your understanding of market failure concepts. por Montex 1 What are goods that are non-excludable and non-exhaustible called? a Public goods b Merit goods c Private goods 2 Which concept describes spillover effects benefiting or harming a third party? a Monopolies b Externalities c Public goods 3 A government subsidy aims to boost which type of goods that are under-consumed? a Public goods b Inferior goods c Merit goods 4 Which market failure leads to higher prices and lower output due to one firm? a Public goods b Monopoly c Externalities 5 What term describes the market failure when society benefits more from a good than the private buyer? a Public good under-provision b Negative externalities c Merit goods under-consumption 6 What is the market failure when the price does not reflect the true social cost? a Public costs b Merit costs c External costs (negative externalities) 7 Which intervention provides goods financed by taxes to correct a market failure? a Private market solution b Tariff protection c Public provision by government 8 Which type of externality occurs when production harms a third party? a Negative externality b Positive externality c Neutral externality 9 Which term describes the lack of private provision of a good that society needs? a Market equilibrium failure b Missing market for public goods c Perfect competition 10 What happens to unemployment when market failure retrenches workers and reduces output? a No effect on employment b Unemployment falls c Retrenchment and unemployment rise

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Market Failure Mastery

Froggy Jumps

Sobre esta actividad

Creada por

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Market Failure MasteryVersión en línea

por Montex

What are goods that are non-excludable and non-exhaustible called?

Which concept describes spillover effects benefiting or harming a third party?

A government subsidy aims to boost which type of goods that are under-consumed?

Which market failure leads to higher prices and lower output due to one firm?

What term describes the market failure when society benefits more from a good than the private buyer?

What is the market failure when the price does not reflect the true social cost?

Which intervention provides goods financed by taxes to correct a market failure?

Which type of externality occurs when production harms a third party?

Which term describes the lack of private provision of a good that society needs?

What happens to unemployment when market failure retrenches workers and reduces output?