Remedying Market Failures


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question 1 of 3

A situation that occurs when products demanded does not equal products supplied is called what?

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1. When the cost to produce goods decreases in relation to an increase in production it is called what?

2. Which one is NOT a property of public goods?

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About This Quiz & Worksheet

To see what you know about remedying marketing failures, use the quiz/worksheet combo. Methods for fixing market failure and properties of public goods are some topics you will be quizzed on.

Quiz & Worksheet Goals

These materials help you see what you know about:

  • Things that would and would not remedy market failure
  • Type of remedy offered by the government to create more products
  • Name for when the cost to produce goods decreases as population increases
  • When products demanded does not equal products supplied
  • Properties that public goods do and do not have

Skills Practiced

  • Information recall - remember what you learned about examples of a property of public goods
  • Interpreting information - verify that you can read information about remedies for market failure and interpret them correctly, including ones offered by the government
  • Reading comprehension - ensure that you draw the most important information from the lesson on fixing market failures

Additional Learning

Go through the lesson titled Remedying Market Failures to keep learning. Objectives you can cover include:

  • Determine what market failure is
  • See why market failure happens
  • Identify the most effective ways to deal with market failure