Market Failures and Structures

Market Failures and Structures

11th Grade

20 Qs

quiz-placeholder

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Market Failures and Structures

Market Failures and Structures

Assessment

Quiz

Social Studies

11th Grade

Practice Problem

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20 questions

Show all answers

1.

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

HyDEEE never pays for gas

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Which of the following industries is an example of a monopoly?

utilities/water

department stores

auto industry

commercial airlines

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Negative externalities can be best described as

When the consumption/production of a good or service has a negative impact on a third party

When the consumption/production of a good or service has any impact on a third party

When the consumption/production of a good or service has a positive impact on a third party

When the consumption/production of a good or service depletes the access for a third party

4.

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

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

List the four market structures in order from least competitive to most competitive.

Oligopoly, Monopoly, Perfect Competition, Monopolistic Competition
Perfect Competition, Oligopoly, Monopoly, Monopolistic Competition
Monopoly, Oligopoly, Monopolistic Competition, Perfect Competition
Monopoly, Monopolistic Competition, Perfect Competition, Oligopoly

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Tragedy of the _____ is the idea that common goods that everyone has access to are often misused and exploited.

Commons

Exceptions

People

Oligarchs

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a positive externality resulting from an outdoor band concert?

An elderly woman in her apartment hears a song that she liked as a child.

A pair of endangered birds leave their nest in a nearby tree when the concert starts.

A pizza parlor closes early, because all of its customers are at the concert.

A traffic jam occurs as drivers hunt for parking spots near the concert.

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