The Three Questions of Economics

Question 1

Which part of Suarez Farms represents the capital invested in the business?

Revolt · Accepted Answer

C: farm equipment the Suarez family owns

Question 2

Based on what you have read about Suarez Farms, what are the costs and benefits of growing organic vegetables? Check all that apply.Growing organic vegetables takes less time, which will keep costs lower.Growing organic vegetables helps improve the health of soil, allowing for a healthier crop.Growing organic vegetables may limit the resources available for new farm equipment. Growing organic vegetables requires more land, limiting how much can be grown.Growing organic vegetables is more expensive than traditional methods.

Revolt · Accepted Answer

B: Growing organic vegetables helps improve the health of soil, allowing for a healthier crop.; C: Growing organic vegetables may limit the resources available for new farm equipment.; E: Growing organic vegetables is more expensive than traditional methods.

Question 3

Question 3

Revolt · Accepted Answer

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Question 4

Which pros and cons did you include? Check all that apply.

Revolt · Accepted Answer

A: It could cost more to grow organic crops.

Question 5

Based on what you read in the fact sheet, identify the type of customer the company is hoping to reach.Super-Phonic Systems wants to sell phones to customers who:

Revolt · Accepted Answer

B: need affordable phone service in remote areas.

Question 6

economy profit✔ product

Revolt · Accepted Answer

C: product

Question 7

Based on what you have read, provide three reasons why Super-Phonic decided to make a specific type of phone in a specific way.

Revolt · Accepted Answer

Super-Phonic believes that demand among its target customers is strong for its specific products and services. The company thinks it is better than its competitors at providing this type of phone and service at a reasonable rate. Finally, Super-Phonic believes that adding smartphone features to its phones would make them more expensive and less reliable.

Question 8

the countrytheir workers✔ the market

Revolt · Accepted Answer

C: the market

Question 9

Which reasons did you include in your response? Check all that apply.

Revolt · Accepted Answer

A: providing reliable service; B: keeping prices low; C: making durable phones; D: avoiding unnecessary features; E: meeting strong customer demand

Question 10

country's✔ customers'workers'

Revolt · Accepted Answer

B: customers'

The Three Questions of Economics Answers

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