Unit Test — Unit test Answers
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Adam Smith is the author of what influential book?
What are the basic types of resources used by producers? Choose three answers.capitallaborvaluescarcityland
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?
Land is considered a resource because it
In a competitive market, an electronics company releases a smartphone that is much faster than older models. This is an example of
"Everyone’s rights should be protected" is an argument
The factors of production attempt to instill the idea that resources are
A pure market economy is sometimes called pure
Opportunity cost means that something needs to be
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?
In a competitive market, an electronics company releases a smartphone that is much faster than older models. This is an example of
What type of labor force might a pottery factory want to focus on when hiring?
Which of the following are considered needs? Choose three answers.foodInternetcell phoneresidencetelevisionwater
This graph shows the US unemployment rate from August 2010 to November 2011. This graph could help the US government
"Everyone’s rights should be protected" is an argument
Land is considered a resource because it
What are the cons of a mixed market economy for most citizens? Select four answers.There may be a sizable gap between rich and poor people.It can be very difficult for citizens to start private businesses.Citizens must pay for most basic necessities by themselves.There is no guarantee of steady employment for many citizens.Citizens may pay higher taxes than in other economic systems.Citizens often purchase their own health care and higher education.
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