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

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George Mariyajohnson
Created by George Mariyajohnson over 3 years ago
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Lecture 5- Market failure (2)

Question 1 of 13

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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

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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

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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

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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

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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

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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

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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

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Government may intervene to control pricing by imposing &

Explanation

Question 9 of 13

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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

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

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Question 11 of 13

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

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Question 12 of 13

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

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Question 13 of 13

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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