Other questions in this quiz

2. Negative externalities create _________.

  • External costs
  • Private costs

3. What is a demerit good?

  • Demerit goods, their consumption is more harmful than consumers realise
  • Demerit goods have more private benefits than consumers realise

4. What are social costs?

  • Social costs are all the related costs associated with an action, both private and external costs.
  • Social costs are the external cost and marginal private benefit of an action.
  • Social costs are both cost that affect first parties (society) and third parties (consumers/firms)

5. Which of these is an example of a quasi public good?

  • Toll roads
  • Street light
  • A bottle of tropicana juice

Comments

izzy

Report

very good quiz!

davidsalter

Report

This 10 question quiz can be used to provide a brief respite from intensive reading and highlight areas for further study.

Alvarodasilva17

Report

(y) 

Report

slap my botty

Similar Economics resources:

See all Economics resources »See all Competitive markets resources »