Unit 5 self quiz-BUS 1103 PDF

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Unit 5 self quiz- BUS 1103 Question 1 Correct Mark 1.00 out of 1.00 Question text A pollution charge gives a profit maximizing firm an incentive to determine ways to reduce its emissions as long as the marginal cost of reducing the emissions is less than the tax. Select one: a. True b. False Feedback The correct answer is: True Question 2 Correct Mark 1.00 out of 1.00 Question text Benefits of a cleaner environment are_________________________. Select one: a. People may stay healthier and live longer; Certain industries that rely on clean air and water may benefit; Property values may be higher; and People may simply enjoy a cleaner environment in a way that does not need to involve a market transaction b. People may stay healthier and live longer; Certain industries that rely on clean air and water may benefit; Property values may be higher; and Companies enjoy a cleaner environment by using marketing tools c. Neither A or B Feedback The correct answer is: People may stay healthier and live longer; Certain industries that rely on clean air and water may benefit; Property values may be higher; and People may simply enjoy a cleaner environment in a way that does not need to involve a market transaction

Question 3 Correct Mark 1.00 out of 1.00 Question text Private benefits are the benefits a person who consumes a good or service receives, or a new product's benefits or process that a company invents that the company captures. Select one: a. True b. False Feedback The correct answer is: True Question 4 Correct Mark 1.00 out of 1.00 Question text The legal rights of ownership on which others are not allowed to infringe without paying compensation is property rights. Select one: a. True b. False Feedback The correct answer is: True Question 5 Correct Mark 1.00 out of 1.00 Question text Certain global environmental issues, such as global warming, spillover national borders and require addressing with some form of international agreement.

Select one: a. True b. False Feedback The correct answer is: True Question 6 Correct Mark 1.00 out of 1.00 Question text Intellectual property rights include patents, which give the inventor the exclusive legal right to make, use, or sell the invention for a limited time, and copyright laws, which give the author an exclusive legal right over works of literature, music, film/video, and pictures. Select one: a. True b. False Feedback The correct answer is: True Question 7 Correct Mark 1.00 out of 1.00 Question text What is the definition of free rider? Select one: a. The body of law including patents, trademarks, copyrights, and trade secret law that protect the right of inventors to produce and sell their inventions. b. Those who want others to pay for the public good and then plan to use the good themselves; if many people act as free riders, the public good may never be provided.

c. The benefits a person who consumes a good or service receives, or a new product's benefits or process that a company invents that the company captures. Feedback The correct answer is: Those who want others to pay for the public good and then plan to use the good themselves; if many people act as free riders, the public good may never be provided. Question 8 Correct Mark 1.00 out of 1.00 Question text Which scenario will make the market supply curve shift to the left? Select one: a. A business in the retail industry received a tax break. b. A company in the transportation industry have to pay a fine for their carbon dioxide emissions.

c. None of the above Feedback The correct answer is: A company in the transportation industry have to pay a fine for their carbon dioxide emissions. Question 9 Incorrect Mark 0.00 out of 1.00 Question text Biogenetics is the full spectrum of animal and plant genetic material. Select one: a. True b. False Feedback

The correct answer is: False Question 10 Correct Mark 1.00 out of 1.00 Question text Market-oriented environmental policies create incentives to allow firms some flexibility in reducing pollution. Select one: a. True b. False Feedback The correct answer is: True Question 11 Correct Mark 1.00 out of 1.00 Question text The ABC Company’s Research & Development (R&D) invested in voice recognition technology which increased revenue by 9%. Which benefit is represented in the scenario? Select one: a. Social b. Private c. Neither A or B Feedback The correct answer is: Private Question 12 Incorrect Mark 0.00 out of 1.00

Question text Which one of the services is an example of nonexcludable? Select one: a. Private education b. Fitness center c. Neither A or B Feedback The correct answer is: Neither A or B Question 13 Correct Mark 1.00 out of 1.00 Question text Which one is an example of a positive externality? Select one: a. Air pollution caused by a manufacturing plant that is harmful to the community b. Water contamination of rivers from runoffs of animal waste c. None of the above Feedback The correct answer is: None of the above

Question 14 Incorrect Mark 0.00 out of 1.00 Question text Private rates of return is when the estimated rates of return go primarily to society; for example, providing free education. Select one:

a. True b. False Feedback The correct answer is: False Question 15 Correct Mark 1.00 out of 1.00 Question text Global warming and biodiversity are examples of . Select one: a. Market failure b. International externalities c. Equilibrium quantity Feedback The correct answer is: International externalities...