Economics - Market Failures MCQ Test: Economics - Market Failures MCQs - Practice Questions
1. What factor is considered in 'Hick's compensation principle' in welfare economics?
2. What is the term for a situation where there is an inefficient allocation of resources due to the overuse of a common resource?
3. What is the economic term for a situation where the production or consumption of a good imposes costs or benefits on third parties not involved in the transaction?
4. What economic principle is related to the idea that a tax cut can lead to increased government revenue?
5. How does 'Regulatory Capture' influence government regulations?
6. What is the primary goal of 'Monetary Policy' in macroeconomics?
7. What economic concept is associated with policies unintentionally leading to increased emissions or negative outcomes in environmental efforts?
8. What is the term for a situation where government actions intended to address a problem inadvertently worsen the situation?
9. In the context of public goods, what is the term for a good that is non-excludable but rivalrous?
10. How does 'Regulatory Capture' impact government regulations?