Gobezoch › Textbooks › Economics Grade 12

Economics Grade 12 Unit 3: MARKET FAILURE AND CONSUMER PROTECTION

19 national exam questions have come from this unit. It runs 23 pages; one careful study pass takes about 2.0 hours, and its difficulty is easier among Economics units. Each section below lists the questions set from it, with the year, and opens the page that teaches it.

Read this unit
3.1 Market Failure · read p. 49
Not asked in a national paper yet.
3.1.1 Common Types of Market Failures · read p. 49
Not asked in a national paper yet.
3.1.2 Solutions to Market Failures · read p. 49
Not asked in a national paper yet.
3.2 Public Goods · read p. 51
  • 2018 E.C., Q60 – Which one of the following is correct about the difference between pure private good and pure public goods?
  • 2018 E.C., Q59 – Which one of the following is the major feature of pure public goods?
  • 2017 E.C., Q9 – Which one of the following explains the free rider problem in an economy?
  • 2017 E.C., Q7 – Which one of the following statements correctly describe market failure?
  • 2016 E.C., Q14 – Which of the following characterize Public goods?
  • 2016 E.C., Q13 – Which one of the following is an example of public goods?
  • 2016 E.C., Q15 – Which one of the following factor is the reason for market inefficiency in the provision of public goods?
  • 2016 E.C., Q12 – Suppose Sol-ech - company receives positive externalities from COMP educated graduates subsidize computer education through scholarships, in which of the following group is this type of solution for market failure listed
3.3 Externalities · read p. 55
  • 2018 E.C., Q61 – Which one of the following is correct about the characteristics of externality?
  • 2017 E.C., Q10 – Among the following alternatives, which one represents a positive externality?
  • 2017 E.C., Q8 – Which one of the following is a solution for the market failure caused by a firm that pollutes a river?
  • 2017 E.C., Q82 – What is the economic terminology for the situation where non-smokers suffer by the air contamination induced by smokers?
  • 2016 E.C., Q11 – Which of the following is NOT the cause of market failure?
  • 2016 E.C., Q21 – Which one of the following difference is the cause for efficiency loss in the presence of negative externality?
3.4 Asymmetric Information · read p. 60
  • 2018 E.C., Q62 – Suppose in a car market transaction, sellers take advantage of buyers because the sellers have better information about the dynamic of product quality and market price change of cars than the buyers. Which one of the fol
  • 2017 E.C., Q11 – Asymmetric information is a situation when;
  • 2016 E.C., Q22 – When an insurance company provides fringe benefits on the basis of an average rate over a set of employees and guarantees them to participate in the program, then this can be seen as a solution for which one of the follo
3.5 Consumer Protection · read p. 63
  • 2018 E.C., Q51 – Which one of the following consumer protection arguments states that it is a moral responsibility of the business to serve the interest of consumers?
  • 2017 E.C., Q13 – Why is it necessary the need for consumer protection?