Microeconomics Study Set 10
Quiz 1: Economics and Life
Which of the Following Describes When Government Alter Normal Market
Which of the following describes when government alter normal market activity? A) Innovation B) Intervention C) Market failure D) Unprofitable outcome
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If you generate a new idea that has not been implemented yet by anyone else,and the idea offers a more profitable use of some resource,it is likely an example of: A) innovation. B) market failure. C) intervention. D) a goal other than profit.
If an idea has not been implemented because a monopoly producer has placed a barrier to entry,the circumstances are not normal due to: A) innovation. B) market failure. C) intervention. D) goals other than profit.
After investigating an idea to open a rooftop restaurant in the downtown area of your community,you discover that any rooftop restaurant would violate city regulations.These circumstances would not be considered normal due to: A) innovation. B) market failure. C) intervention. D) goals other than profit.
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