Economics Study Set 1

A type of good that is subject to market failure is:

When a good ends up overconsumed and depleted,we can assume it is:

When a good ends up undersupplied,we can assume it is:

The problem caused by goods that are considered common resources is that they:

Public goods,when left to the private market:

Which of the following is likely to cause a market failure and be overconsumed?

Which of the following is likely to cause market failure and be undersupplied?

When faced with a market failure,the government:

Which of the following goods is most likely to be overconsumed?

Which of the following goods is most likely to be overconsumed?

Which of the following is most likely to be overconsumed?

When a good is excludable:

When a good is rival in consumption:

Private goods are:

Excludability matters because it:

If you can't prevent people from consuming something,then:

An example of an excludable good is:

An example of an excludable good is:

An example of a good that is not excludable is:

Most goods are: