Market Failures

Front

Which best describes a public good? Options: A good provided by the government, A good purchased by individuals, A good that exists only in a free market, A good that produces no externalities

Back

A good provided by the government

Front

A market failure is best described as

Back

The idea that market forces of supply and demand do not always provide the maximum benefit for society.

Front

The following statements are true of government regulations except: They limit economic freedom, They seek to limit negative externalities, They exist to protect consumers, They are always popular with private businesses

Back

They are always popular with private businesses

Front

Which is not an example of a government safety net? Options: Unemployment Insurance, Social Security, Consumer Safety, Medicaid

Back

Consumer Safety

Front

Which is not an example of a public good? Options: Legacy High School, Big Dry Creek Open Space, Target, Broomfield Water

Back

Target

Front

Safety nets, in the context of market failure, are

Back

Programs that help people who are struggling

Front

Government regulations exist to: Increase economic freedom, Protect consumers from negative externalities, Punish people who intervene in the free market, Provide incentives to privatize

Back

Protect consumers from negative externalities

Front

Government regulation may negatively affect businesses in the following ways by: Increasing input costs, Increasing profits, Lowering consumer prices, All of the above

Back

Increasing input costs

Front

Private businesses cannot always provide goods and services: Profitably, Fairly, Safely, All of the above

Back

All of the above

Front

The ups and downs of the economy, which the government must sometimes step in to stabilize due is known as the

Back

Business cycle