AnswersEA Academy Civics 9Introduction to Economics

Solving Quadratic Equations: Completing the Square Answers

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1
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Which resource is nonrenewable?

A
coal
B
crops
C
trees
D
water
2
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Review the chart.

Question illustration
A
the cruiser has scarcer parts.
B
the road bike has scarcer parts.
C
the cruiser is more popular with customers.
D
the road bike is more popular with customers.
3

Madam C. J. Walker saw a need and filled it. In the early 1900s, Walker started her own business developing and manufacturing hair-care products for African American women. She bought supplies to create her products and hired women to sell them. Her company’s success resulted in Walker becoming the first female African American millionaire in the United States.

A
land, labor, and capital
B
land, capital, and entrepreneurship
C
labor, entrepreneurship, and land
D
labor, capital, and entrepreneurship
4

Which scenario best describes how scarcity affects a producer’s decision about who to produce for?

A
Several popular sites on the internet have featured products made with a particular kind of bead. The popularity of the products has led to a shortage of these beads. Tons of Beads uses the same beads to make beaded jackets and shoes. The shortage has forced the company to switch to a new kind of bead.
B
High demand and delays in production due to poor weather conditions have driven up the cost of oil. Acme uses oil-based products in its manufacturing. As a result, the company has had to raise prices on many of its products. This has resulted in some customers being forced to stop buying the products.
C
The economy has declined, with many people out of work. The very wealthy, however, have been doing well through the downturn. A jewelry company decides to produce a new line of expensive jewelry.
D
It was a very good year for growing apples. As a result, grocery stores have lots of apples to sell. Stores have lowered their prices on apples to attract customers. This has led to a sizeable increase in apple sales.
5

Corn farmers experience an unusually good crop. This results in large amounts of corn being brought to market.

A
Corn farmers will make more money per bushel of corn.
B
Grocery stores will charge less for each ear of corn.
C
Products that contain corn will cost more to produce.
D
Consumers will buy less corn.
6

Which best describes how scarcity affects the decisions that governments make?

A
Governments must decide how to use their limited funds to provide services.
B
Governments are not influenced by the scarcity of labor.
C
Governments are not influenced by scarcity because they have unlimited resources.
D
Governments are only affected by the scarcity of capital.
7

Which scenario best describes how scarcity affects a producer’s decision about how a product should be produced?

A
Comfy Doggo produces custom doghouses and dog beds. The company normally uses yellow pine to make its products. However, a customer orders three doghouses, but requests that they be made of red cedar. The company orders red cedar for the project.
B
Hillview Café decides to make a change to its lunch and dinner menu by adding several vegan and vegetarian items. The restaurant trains its cooks on how to prepare the new meatless and dairy-free menu items.
C
Brookville Skateboard produces skateboards for professional and advanced skateboarders. The company decides to join the ranks of companies producing skateboards for young people just learning the sport.
D
Birds of a Feather produces birdhouses. The company normally uses copper roofs on its birdhouses. Recently, the price of copper has increased dramatically because of high demand. The company decides to switch to tin, which is cheaper and readily available.
8

A lot is a section of land on which a house can be built. A beach town only has two oceanfront lots left to sell. Another five lots are available two blocks from the beach. Seven more lots are available two miles from the beach, and a dozen lots are available five miles from the beach. Each lot is the same size. The only differences are the distance from the beach and the number of lots available in each location.

A
the dozen lots located five miles from the beach
B
the seven lots located two miles from the beach
C
the five lots located two blocks from the beach
D
the two lots located along the oceanfront
9

The photograph shows the inside of a factory.

Question illustration
A
land
B
labor
C
capital
D
entrepreneurship
10

What three basic questions must all economies answer?

A
What should be produced, how should it be produced, and who should it be produced for?
B
What resources are most scarce, why are they scarce, and how can they be made less scarce?
C
What do consumers want, how much are consumers willing to spend, and how much should goods cost?
D
What is the culture of the economy, what values do consumers have, and how will customs affect buying?

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