Competition and Free Enterprise — Unit test Answers

0 verified answers

In a competitive market, an electronics company releases a smartphone that is much faster than older models. This is an example of

following a federal regulation.

lowering prices for customers.

reducing the risk for consumers.

creating an innovative product.

[BLANK]

formal

casual

infomal

How do economists use data? Choose two answers.

to follow and predict unemployment rates

to communicate with customers instantly

to ship goods to countries all over the world

to explain trends in production and shipping

to apply automation to reduce production costs

"Everyone’s rights should be protected" is an argument

for competition.

against competition.

for regulation.

against regulation.

In a republic, elected officials create laws to regulate the economy.

How does a counterclaim help support a writer’s position in an argumentative essay?

The counterclaim shows how the position is misleading.

The counterclaim shows how the opposing opinion is incorrect.

The counterclaim allows readers to state their own positions.

The counterclaim allows readers to provide their own interpretations.

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.

Did you find these answers helpful?

More from this Course