Market Failure Quizzes, Questions & Answers

Externalities Quizzes

This quiz titled 'Econ Chapter 31' assesses understanding of market failures, externalities, and their social impacts. It covers key economic concepts crucial for grasping how mark...

Questions: 70 | Attempts: 1730 | Last updated: Mar 21, 2025

Sample Question
1. Market failure is a situation in which

The market does not provide the ideal or optimal amount of a particular good.

There are too many buyers but not enough sellers.

Prices are too high for "average" people to buy necessities.

There is a question over the quality of a product for sale.

A Quick Microeconomics Knowledge Test

Explore key microeconomic concepts through this engaging test. Assess your understanding of externalities, market behaviors, government interventions, and consumer responses to pri...

Questions: 8 | Attempts: 133 | Last updated: Jul 22, 2025

Sample Question
A situation in which a benefit or a cost associated with an economic activity spills over to third parties is called:

A merit good

An externality

The free-rider problem

A public good

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Government Intervention Quizzes

Quiz on Microeconomics: Supply, Demand, and Government Policies

Explore the impact of government interventions on market equilibrium in this Microeconomics quiz. Assess your understanding of supply, demand, price ceilings, and floors, and the e...

Questions: 34 | Attempts: 1513 | Last updated: Oct 22, 2025

Sample Question
If the equilibrium price of gasoline is $1.00 per gallon and the government places a price ceiling on gasoline of $1.50 per gallon, the result will be a shortage of gasoline

True

False

Diaz- Intro to Economics Chapter 2

This quiz covers the material we have covered in Ch. 2 Upon completion of the quiz you need to begin your Economic analysis paper on the China/Hong Kong relationship.

Questions: 34 | Attempts: 139 | Last updated: Aug 01, 2025

Sample Question
Which economic system best describes the United States economic system?

Laissez faire economy

Mixed market economy

Centrally planned (command) economy

Free market economy

Understanding Market Failures and Government Interventions in Economics

Explore the complexities of market failures and the essential roles of government intervention in economic systems. This quiz delves into challenging scenarios where markets strugg...

Questions: 18 | Attempts: 14 | Last updated: Aug 04, 2025

Sample Question
What is Economic Efficiency?

A situation that occurs when:1. all activities generating more benefits than cost are undertaken2.No activities are undertaken for which the cost exceeds the benefit

A state in which economic activity is maximized regardless of costs and benefits

A situation that occurs when costs are minimized at the expense of benefits

An economic state where resources are allocated in the most efficient way possible

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Market Failure Quizzes, Questions & Answers

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