2
QuizMultiple Choice

Competition and Free Enterprise — Unit test

Question 2 of 11 • 26-27 Ignite Economics-KY-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 using available and renewable resources.
B
John is relying on inexpensive labor costs to improve profits.
C
John is using resources to produce both goods and services.
D
John is assuming consumers will have limited need for his product.
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