ECO-211: Quiz Chapter 7 Market Inefficiencies: Externalities and Public Goods - Results

ECO-211
Quiz Chapter 7 Market Inefficiencies: Externalities and
Public Goods - Results
Attempt 1 of 2
Written Oct 29, 2025 5:17 AM - Oct 29, 2025 5:40 AM
Attempt Score - 100 %
Overall Grade (Highest Attempt) - 100 %
Question 1 (Mandatory)
Which of the following is a service?
a) a visit to your doctor


b) a trip to the store to buy a T-shirt


c) having to write a check to pay your taxes


d) a visit to your local beach


e) dinner at a friend's home

Question 2 (Mandatory)
For a market, where external costs exist, to work efficiently
a) all internal costs must be eliminated.


b) the social costs must be equal to the internal costs.


c) all external costs must be eliminated.


d) all pollution must be eliminated.


e) the external costs must be internalized.

Question 3 (Mandatory)
External costs can result from the actions of


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, a) firms, consumers, and the government.


b) the government.


c) firms.


d) consumers.


e) firms and consumers.

Question 4 (Mandatory)
The pollution emitted by a car is an example of a(n) ________ cost.
a) social


b) internal


c) public-good


d) external


e) production

Question 5 (Mandatory)
Which of the following is true?
a) internal costs − social costs = external costs


b) external costs = social costs + internal costs


c) internal costs = social costs + external costs


d) social costs = internal costs − external costs


e) social costs = internal costs + external costs

Question 6 (Mandatory)


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