What are some benefits to private ownership? Select three answers.Private ownership provides offices for government workers.Private ownership provides land or goods for all citizens to use.Private ownership can make it possible for a business to earn money.Private ownership might help a person move to another economic class.Private ownership allows a person to own goods that may increase in value.
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The factors of production attempt to instill the idea that resources are
Which of the following statements about opportunity cost are true?CHECK ALL THAT APPLY.It exists because resources are scarce.It influences consumers.It influences producers.It assists in anticipating profits.It encourages people to spread their resources around.
Which situation best reflects the concept of free enterprise?
"Everyone’s rights should be protected" is an argument
The government has the right to own all land, buildings, and factories in a
In a command economy, a cotton farm floods after a heavy storm. The repair work most likely will be paid by
Land is considered a resource because it
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?
Opportunity cost means that something needs to be
Which of the following are considered needs? Choose three answers.foodInternetcell phoneresidencetelevisionwater
What are some ways to address unemployment in a market economy? Select three answers.creating new projectsincreasing regulationlowering restrictionsraising more taxespromoting hiring
Which of the following would be considered a nonrenewable resource?
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