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Micro economics II
Speed Match Review Game

This game has been played 12 times
The best time ever was at 124 seconds.
The best time today is at seconds.
How To Play:
Drag the squares in the gray area and drop them in the matching squares in the blue area below.
If you drop a square in the correct spot, it will disappear.
If you make a mistake, the square will return to its original spot.
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Let's Play Speed Match!

subsidy
sales tax
education and health services
common use resources
surplus
deadweight loss
a right shift in the supply curve
public good
merit good
the armed forces, the police service as well as national parks
flat rate tax
non excludable
demerit goods
the consumer
ad valorum tax
minimum wage
shortage
proportional taxes
taxes and subsidies
regressive taxes
sales taxes
price floor
price ceiling
progressive taxes
a left shift in the supply curve
The loss of value caused by the imposition of a tax on a good or service is called
When a government sets a minimum price, above the equilibrium price
Taxes which place an equal burden on households from all income groups are called
The result of when the supply for a product exceeds demand
A good where the marginal social benefits of consumption are greater than the private benefits is called a
When a person cannot be excluded from benefiting from a good or service, this is called
This is a payment by the government, paid directly to companies, in the expectation that this will increase quantity supplied
A component of the total production costs of a product
A rise in production costs for a good or service can be shown by
The minimum price for labour is called
Represented by a fixed percentage tax added to the production cost of the good or service
Represented by a fixed amount of tax added to the production cost of each good or service
KDV, VAT and GST are all examples of what type of taxes
Examples include natural resources and include fishing grounds, natural lakes, mountains and forests
Goods and services which have a negative impact on a third party when consumed are called
Example of public goods include
Examples of merit goods include
When a government sets a maximum price, below the equilibrium price
Taxes which place a higher burden on the wealthiest households are called
A rise in productivity in the production a good or service can be shown by
A government places a sales tax on cigarettes. The tax burden falls primarily on
A good which is non-rivalrous and non-excludable
The result of when the demand for a product exceeds supply
Market failure can be corrected by governments using
Taxes which place a higher burden on the lowest income households are called

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DescriptionMatch:
A component of the total production costs of a productsales tax
A rise in production costs for a good or service can be shown by a left shift in the supply curve
The loss of value caused by the imposition of a tax on a good or service is calleddeadweight loss
Taxes which place a higher burden on the wealthiest households are called progressive taxes
When a government sets a maximum price, below the equilibrium priceprice ceiling
Taxes which place a higher burden on the lowest income households are called regressive taxes
A rise in productivity in the production a good or service can be shown bya right shift in the supply curve
Represented by a fixed amount of tax added to the production cost of each good or serviceflat rate tax
KDV, VAT and GST are all examples of what type of taxessales taxes
A government places a sales tax on cigarettes. The tax burden falls primarily on the consumer
Represented by a fixed percentage tax added to the production cost of the good or servicead valorum tax
This is a payment by the government, paid directly to companies, in the expectation that this will increase quantity suppliedsubsidy
When a government sets a minimum price, above the equilibrium priceprice floor
The result of when the supply for a product exceeds demandsurplus
Taxes which place an equal burden on households from all income groups are called proportional taxes
The result of when the demand for a product exceeds supplyshortage
The minimum price for labour is calledminimum wage
A good which is non-rivalrous and non-excludablepublic good
Example of public goods include the armed forces, the police service as well as national parks
Examples of merit goods includeeducation and health services
Goods and services which have a negative impact on a third party when consumed are calleddemerit goods
Market failure can be corrected by governments using taxes and subsidies
A good where the marginal social benefits of consumption are greater than the private benefits is called a merit good
Examples include natural resources and include fishing grounds, natural lakes, mountains and forestscommon use resources
When a person cannot be excluded from benefiting from a good or service, this is callednon excludable