Lecture 3- Market failure (1)

Question 1 of 14

1

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One benefit about equilibrium when market is working is are allocated in most way- both (P=MC) & (P>MC) in long run

Explanation

Question 2 of 14

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Another benefit about equilibrium when market is working is there is no requirement for which reduces &

Explanation

Question 3 of 14

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Third benefit about equilibrium when market is working is are made. This benefits but ensure are rewarded

Explanation

Question 4 of 14

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Fourth benefit about equilibrium when market is working is maximum &

Explanation

Question 5 of 14

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Assumptions made relating to market is working include , no or dominates market, all & relate to buyer & seller, rapid or instant for both buyer & seller, no illusion & ignore concerns

Explanation

Question 6 of 14

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Market failure- When leads to of in an economy

Explanation

Question 7 of 14

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One type of market failure is . This is when &/ do not have about , & about good or service & are therefore unable to make decisions

Explanation

Question 8 of 14

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Two types of imperfect information are & . is when there is in available to each of two parties involved in . is when one party lacks about of other party involved in

Explanation

Question 9 of 14

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Another type of market failure is . This is when fails to create for good or service

Explanation

Question 10 of 14

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can be related to missing market. It refers to people acting in their who overuse without considering this will lead to of that

Explanation

Question 11 of 14

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Third type of market failure is . This refers to or to that is not involved in , & of good/service. There is difference between & costs & benefits

Explanation

Question 12 of 14

1

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Merit goods- Goods that have to or as whole, as result of people or that good. Examples include & . For these goods, is greater than & therefore there is an of merit goods

Explanation

Question 13 of 14

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Demerit goods- Goods that have to or as whole, as result of people or that good. Examples include & . For these goods, is greater than & therefore there is an of demerit goods

Explanation

Question 14 of 14

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Fourth type of market failure is . These are that are , & . Marginal cost for are equal to . This leads to which is when person from good or service without for it

Explanation

	Created by George Mariyajohnson almost 4 years ago

Highers Accounting and Finance (Year 2) (Managerial Economics) Quiz on Lecture 3- Market failure (1), created by George Mariyajohnson on 27/01/2021.

Lecture 3- Market failure (1)

Lecture 3- Market failure (1)

Question 1 of 14

Fill the blank spaces to complete the text.

One benefit about equilibrium when market is working is are allocated in most way- both (P=MC) & (P>MC) in long run

Explanation

Question 2 of 14

Fill the blank spaces to complete the text.

Another benefit about equilibrium when market is working is there is no requirement for which reduces &

Explanation

Question 3 of 14

Fill the blank spaces to complete the text.

Third benefit about equilibrium when market is working is are made. This benefits but ensure are rewarded

Explanation

Question 4 of 14

Fill the blank spaces to complete the text.

Fourth benefit about equilibrium when market is working is maximum &

Explanation

Question 5 of 14

Fill the blank spaces to complete the text.

Assumptions made relating to market is working include , no or dominates market, all & relate to buyer & seller, rapid or instant for both buyer & seller, no illusion & ignore concerns

Explanation

Question 6 of 14

Fill the blank spaces to complete the text.

Market failure- When leads to of in an economy

Explanation

Question 7 of 14

Fill the blank spaces to complete the text.

One type of market failure is . This is when &/ do not have about , & about good or service & are therefore unable to make decisions

Explanation

Question 8 of 14

Fill the blank spaces to complete the text.

Two types of imperfect information are & . is when there is in available to each of two parties involved in . is when one party lacks about of other party involved in

Explanation

Question 9 of 14

Fill the blank spaces to complete the text.

Another type of market failure is . This is when fails to create for good or service

Explanation

Question 10 of 14

Fill the blank spaces to complete the text.

can be related to missing market. It refers to people acting in their who overuse without considering this will lead to of that

Explanation

Question 11 of 14

Fill the blank spaces to complete the text.

Third type of market failure is . This refers to or to that is not involved in , & of good/service. There is difference between & costs & benefits

Explanation

Question 12 of 14

Fill the blank spaces to complete the text.

Merit goods- Goods that have to or as whole, as result of people or that good. Examples include & . For these goods, is greater than & therefore there is an of merit goods

Explanation

Question 13 of 14

Fill the blank spaces to complete the text.

Demerit goods- Goods that have to or as whole, as result of people or that good. Examples include & . For these goods, is greater than & therefore there is an of demerit goods

Explanation

Question 14 of 14

Fill the blank spaces to complete the text.

Fourth type of market failure is . These are that are , & . Marginal cost for are equal to . This leads to which is when person from good or service without for it

Explanation