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?
most likely
Which situation best reflects the concept of free enterprise?
A pure market economy is sometimes called pure
What is an example of goods?
Which of the following would be considered a nonrenewable resource?
What is one purpose of studying economics?
What type of labor force might a pottery factory want to focus on when hiring?
Which of the following is influenced by personal economic choices? Choose four answers.the cost of your rent and utilitiesthe resources you have availablethe amount of money you spend on a bus passthe money you decide to spend on leisure productsthe amount of money you put into your savings accountthe manner in which you balance your time between work and leisure
Which of the following would be a producer?
What are the basic types of resources used by producers? Choose three answers.capitallaborvaluescarcityland
In the free-enterprise system of the United States, the government
Land is considered a resource because it
What are some ways to address unemployment in a market economy? Select three answers.creating new projectsincreasing regulationlowering restrictionsraising more taxespromoting hiring
What might happen if an economy is unable to produce wanted goods and services?
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