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12th Grade - University

18 Qs

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Assessment

Quiz

Social Studies, Other

12th Grade - University

Practice Problem

Hard

Created by

Jake Goodman

Used 1+ times

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18 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

What is one reason that firefighter services are considered a public good?

Everyone in the community benefits from it.

Nobody in the community has to pay for it.

Private firms make a profit from producing it

Individual citizens pay directly for it.

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Which of the following explains why a city fireworks display on the Fourth of July is provided as a public good?

Fireworks displays usually take place in a public area.

Fireworks are a scarce resource.

Nonpayers cannot be prevented from seeing the fireworks.

Each consumer pays a fee to see the fireworks.

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Market failure occurs whenever

free markets fail to distribute resources efficiently.

goods fail to arrive at a market in a timely fashion.

government builds infrastructure.

voluntary exchange in a market fails to result in a sale.

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Why has the United States space program been operated as a public good?

Private enterprise does not have the technical skill needed to build the rockets that carry astronauts into space.

The profit incentive for a private company to establish and run its own space program is too great.

The inability of the American space program to land an astronaut on Mars is an example of market failure.

It is impractical to exclude nonpayers from enjoying the scientific and technological benefits of the space program.

5.

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

6.

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

none of the above

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What statement best explains why the government provides goods and services to its citizens?

To provide benefits to small groups of people in certain areas of the country.

To provide goods and services that would not be available if individuals had to provide them.

To compete with businesses in the private sector.

To make a large profit by providing certain goods and services to it's citizens.

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