Microeconomics Questions
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Microeconomics
Basic Economic ConceptsWhen taking out a loan, the shorter your term length, the your monthly payments, and the the total interest you will pay.
higher, lower
higher, higher
lower, lower
lower, higher
Microeconomics
Basic Economic ConceptsWhich of the following is an example of a private good?
a personal computer used to access the internet
a public website
positions in a free online game limited to 100 people
an internet connection from a local cable company
Microeconomics
Basic Economic ConceptsWhat is a public good?
A public good is a product or service that one consumer cannot prevent another consumer from using, and is accessible without payment.
A public good is a product or service that one consumer cannot prevent another consumer from using, and is not accessible without payment.
A public good is a product or service that one consumer can prevent another consumer from using, and is not accessible without payment.
A public good is a product or service that one consumer can prevent another consumer from using, and is accessible without payment.
Microeconomics
Basic Economic ConceptsWhat is a negative externality?
Negative externalities are goods or services that are subject to the free-rider problem.
Negative externalities occur when the social cost of a good or service is lower than the private cost.
Negative externalities are goods or services that one consumer can limit another consumer's use of.
Negative externalities occur when the social cost of a good or service is higher than the private cost.
Microeconomics
Basic Economic ConceptsWhat does excludability mean for goods and services?
The good or service is subject to the free-rider problem.
The good or service has a higher social cost than private cost.
An excludable good or service's availability to one consumer can be affected by another consumer.
An excludable good or service's availability is dependent on payment.
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