7. Topic 7(COLON) Market Failure and Government Intervention

Lesson 7.2: Public Goods, Merit Goods And Information Failure — Quiz

Test your understanding of lesson 7.2: public goods, merit goods and information failure with 5 practice questions.

Practice Questions

Question 1

What is a key characteristic of public goods?

Question 2

What problem arises when public goods are under-provided in a market?

Question 3

Which of the following is NOT a characteristic of merit goods?

Question 4

In terms of information failure, what is adverse selection?

Question 5

What causes government failure when addressing markets that have externalities?