Week 4 Knowledge Check Study Guide w chapt help
Week 4 Knowledge Check Study Guide
Concepts
Mastery
MARKET
Questions
100%
1
HORIZONTAL MERGER
100%
4
VERTICAL MERGER
100%
5
JOINT VENTURE
100%
6
PRICE CEILING
100%
9
PRICE FLOOR
100%
10
EXTERNALITIES
Score: 10 / 10
2
3
7
8
Concept: MARKET EXTERNALITIES
Mastery
1.
100%
Questions
1
2
3
What do economists mean when they say there is "market failure"?
A. Business has introduced a product that consumers did not want. B. Free markets have led to excessive profits.
C. Markets have surpluses or shortages so that government rationing is necessary.
D. Free markets yield results that economists do not consider socially optimal.
Correct:
The Correct Answer is: D.
2.
If a market has no externalities, marginal private costs
A. exceed marginal social costs
B. equal marginal social costs
C. are below marginal social costs
D. intersect marginal social costs
Correct:
The Correct Answer is: B.
3.
Economists generally call the effect of an agreement on others that is not taken into account by the parties making the agreement
A. an externality
B. welfare loss
C. Pareto optimality
D. excess burden
Correct:
The Correct Answer is: A.
Concept: HORIZONTAL MERGER
Mastery
100%
Questions
4
4.
The size performance improvements sought by those pursuing horizontal mergers is
A. economies of scale
B. increased market share
C. to coordinate activities more efficiently to spur growth
D. to decrease competition
Correct:
The Correct Answer is: C.
Concept: VERTICAL MERGER
Mastery
100%
Questions
5
5.
A company buys another company in the same supply chain, but either in front of it or behind it in the supply chain. This is called
A. a horizontal acquisition
B. a vertical acquisition
C. a conglomerate
D. a joint venture
Correct:
The Correct Answer is: B.
Concept: JOINT VENTURE
Mastery
100%
Questions
6
7
8
6.
Sony and Toshiba become partners in a microprocessor manufacturing company. This is called A. a horizontal acquisition
B. a
Concepts
Mastery
MARKET
Questions
100%
1
HORIZONTAL MERGER
100%
4
VERTICAL MERGER
100%
5
JOINT VENTURE
100%
6
PRICE CEILING
100%
9
PRICE FLOOR
100%
10
EXTERNALITIES
Score: 10 / 10
2
3
7
8
Concept: MARKET EXTERNALITIES
Mastery
1.
100%
Questions
1
2
3
What do economists mean when they say there is "market failure"?
A. Business has introduced a product that consumers did not want. B. Free markets have led to excessive profits.
C. Markets have surpluses or shortages so that government rationing is necessary.
D. Free markets yield results that economists do not consider socially optimal.
Correct:
The Correct Answer is: D.
2.
If a market has no externalities, marginal private costs
A. exceed marginal social costs
B. equal marginal social costs
C. are below marginal social costs
D. intersect marginal social costs
Correct:
The Correct Answer is: B.
3.
Economists generally call the effect of an agreement on others that is not taken into account by the parties making the agreement
A. an externality
B. welfare loss
C. Pareto optimality
D. excess burden
Correct:
The Correct Answer is: A.
Concept: HORIZONTAL MERGER
Mastery
100%
Questions
4
4.
The size performance improvements sought by those pursuing horizontal mergers is
A. economies of scale
B. increased market share
C. to coordinate activities more efficiently to spur growth
D. to decrease competition
Correct:
The Correct Answer is: C.
Concept: VERTICAL MERGER
Mastery
100%
Questions
5
5.
A company buys another company in the same supply chain, but either in front of it or behind it in the supply chain. This is called
A. a horizontal acquisition
B. a vertical acquisition
C. a conglomerate
D. a joint venture
Correct:
The Correct Answer is: B.
Concept: JOINT VENTURE
Mastery
100%
Questions
6
7
8
6.
Sony and Toshiba become partners in a microprocessor manufacturing company. This is called A. a horizontal acquisition
B. a