Answers Personal Finance and Economics Practice ExamQuestion 13

13

practice examMultiple Choice

Practice Exam

Question 13 • Personal Finance and Economics

John has a large apple orchard. He has decided to bake pies and sell them at the local farmer’s market. Which best describes John’s use of economics?

Answer

A

John is assuming consumers will have limited need for his product.

B

John is relying on inexpensive labor costs to improve profits.

C

John is using available and renewable resources.

D

John is using resources to produce both goods and services.

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