Lecture 5- Market failure (2)

Question 1 of 13

1

Fill the blank spaces to complete the text.

Government may need to intervene in market where there is lack of information ( or information) because otherwise it is likely to lead to outcomes, of consumers ( consumer welfare) & may not be willing to supply

Explanation

Question 2 of 13

1

Fill the blank spaces to complete the text.

Government may intervene in market where there is lack of information ( or information) by finding ways of facilitating of information, i.e. Consumer Protection Act &

Explanation

Question 3 of 13

1

Fill the blank spaces to complete the text.

Government may need to intervene in market where there to entry. This is especially in & market. This is because abuse its strong position in market & therefore suffer & therefore suffers. They do this by prices (as they are only in market) & providing quality products (as there is little )

Explanation

Question 4 of 13

1

Fill the blank spaces to complete the text.

Government may intervene in market where there to entry by & . This makes it easier for competitors to market. Also, government can make it easier for businesses by supporting them i.e. loans

Explanation

Question 5 of 13

1

Fill the blank spaces to complete the text.

Government may need to intervene in market where there are & . This is because when there is , oligopolists share out some power. Therefore, they charge prices, potentially quality & real choice

Explanation

Question 6 of 13

1

Fill the blank spaces to complete the text.

Government may intervene in market where there are & by i.e. Consumer Protection Act, i.e. Competition Commission (aim to ensure there is no between firms)

Explanation

Question 7 of 13

1

Fill the blank spaces to complete the text.

Government may need to intervene to control pricing because to ensure there is (allows goods that may be considered to society are priced) & prevent . Also, they intervene to ensure (in interests of & ). In addition, they may intervene to counter power of or & finally to encourage or

Explanation

Question 8 of 13

1

Fill the blank spaces to complete the text.

Government may intervene to control pricing by imposing &

Explanation

Question 9 of 13

1

Fill the blank spaces to complete the text.

Government may want to use to intervene in market to reduce (ensure price does not quickly). Also, they may intervene to provide certainty for & . Finally, they may need to intervene in where there are delays in decision making

Explanation

Question 10 of 13

1

Fill the blank spaces to complete the text.

Government may want to ensure there is redistribution of & to ensure there is . Also, to ensure

Explanation

Question 11 of 13

1

Fill the blank spaces to complete the text.

Government may intervene to ensure there is equal distribution of & through . Another way is i.e. education & healthcare. Third way is setting

Explanation

Question 12 of 13

1

Fill the blank spaces to complete the text.

Government may need to do direct provision of & . Also, to ensure there is . Another is because there may be concerns

Explanation

Question 13 of 13

1

Fill the blank spaces to complete the text.

Government may intervene using & for charging . Also, for raising for other government purposes ( goals, goods, subsidising goods). Finally, to ensure there is (tackle income )

Explanation

	Created by George Mariyajohnson almost 4 years ago

Highers Accounting and Finance (Year 2) (Managerial Economics) Quiz on Lecture 5- Market failure (2), created by George Mariyajohnson on 10/02/2021.

Lecture 5- Market failure (2)

Question 1 of 13

Fill the blank spaces to complete the text.

Government may need to intervene in market where there is lack of information ( or information) because otherwise it is likely to lead to outcomes, of consumers ( consumer welfare) & may not be willing to supply

Explanation

Question 2 of 13

Fill the blank spaces to complete the text.

Government may intervene in market where there is lack of information ( or information) by finding ways of facilitating of information, i.e. Consumer Protection Act &

Explanation

Question 3 of 13

Fill the blank spaces to complete the text.

Government may need to intervene in market where there to entry. This is especially in & market. This is because abuse its strong position in market & therefore suffer & therefore suffers. They do this by prices (as they are only in market) & providing quality products (as there is little )

Explanation

Question 4 of 13

Fill the blank spaces to complete the text.

Government may intervene in market where there to entry by & . This makes it easier for competitors to market. Also, government can make it easier for businesses by supporting them i.e. loans

Explanation

Question 5 of 13

Fill the blank spaces to complete the text.

Government may need to intervene in market where there are & . This is because when there is , oligopolists share out some power. Therefore, they charge prices, potentially quality & real choice

Explanation

Question 6 of 13

Fill the blank spaces to complete the text.

Government may intervene in market where there are & by i.e. Consumer Protection Act, i.e. Competition Commission (aim to ensure there is no between firms)

Explanation

Question 7 of 13

Fill the blank spaces to complete the text.

Government may need to intervene to control pricing because to ensure there is (allows goods that may be considered to society are priced) & prevent . Also, they intervene to ensure (in interests of & ). In addition, they may intervene to counter power of or & finally to encourage or

Explanation

Question 8 of 13

Fill the blank spaces to complete the text.

Government may intervene to control pricing by imposing &

Explanation

Question 9 of 13

Fill the blank spaces to complete the text.

Government may want to use to intervene in market to reduce (ensure price does not quickly). Also, they may intervene to provide certainty for & . Finally, they may need to intervene in where there are delays in decision making

Explanation

Question 10 of 13

Fill the blank spaces to complete the text.

Government may want to ensure there is redistribution of & to ensure there is . Also, to ensure

Explanation

Question 11 of 13

Fill the blank spaces to complete the text.

Government may intervene to ensure there is equal distribution of & through . Another way is i.e. education & healthcare. Third way is setting

Explanation

Question 12 of 13

Fill the blank spaces to complete the text.

Government may need to do direct provision of & . Also, to ensure there is . Another is because there may be concerns

Explanation

Question 13 of 13

Fill the blank spaces to complete the text.

Government may intervene using & for charging . Also, for raising for other government purposes ( goals, goods, subsidising goods). Finally, to ensure there is (tackle income )

Explanation