Government Intervention in the Market (Leaving Cert Economics): Quizzes
📚Quizzes
Practise the questions
13 questions from this quiz
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Practise the questions
13 questions from this quiz
What is a mixed economy?
What is a mixed economy?
Free market + govt intervention
What are the two key characteristics of public goods?
What are the two key characteristics of public goods?
Non-rival and non-excludable
What is the purpose of progressive taxation in Ireland?
What is the purpose of progressive taxation in Ireland?
Reduce income inequality
Which body investigates anti-competitive practices in Ireland?
Which body investigates anti-competitive practices in Ireland?
CCPC
What happens when indirect taxes like VAT are imposed?
What happens when indirect taxes like VAT are imposed?
Supply shifts left, prices rise
What are Pigovian taxes designed to target?
What are Pigovian taxes designed to target?
Activities with negative externalities
What was the main aim of Ireland's Sugar Tax introduced in 2018?
What was the main aim of Ireland's Sugar Tax introduced in 2018?
Reduce sugary drink consumption
How do subsidies affect supply curves and prices?
How do subsidies affect supply curves and prices?
Shift right, lower prices
What problem can maximum prices (price ceilings) create?
What problem can maximum prices (price ceilings) create?
Shortages
What do Rent Pressure Zones in Ireland limit?
What do Rent Pressure Zones in Ireland limit?
Annual rent increases
When was Minimum Unit Pricing on Alcohol introduced in Ireland?
When was Minimum Unit Pricing on Alcohol introduced in Ireland?
2022
Which body regulates telecommunications and broadband services in Ireland?
Which body regulates telecommunications and broadband services in Ireland?
ComReg
What is a key weakness of regulation?
What is a key weakness of regulation?
Over-regulation increases business costs