Answers26-27 Ignite Economics-KY-EconomicsWriting Workshop: The Importance of Free Enterprise

Writing Workshop: The Importance of Free Enterprise — Unit test Answers

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1
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Land is considered a resource because it

A
is always available to use.
B
is used to produce things.
C
costs little or nothing to use.
D
requires labor to be useful.
2
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What type of labor force might a pottery factory want to focus on when hiring?

A
highly skilled
B
highly wealthy
C
highly educated
D
highly localized
3

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

A
T
B
F
4

What are the cons of a mixed market economy for most citizens? Select four answers.

A
There may be a sizable gap between rich and poor people.
B
It can be very difficult for citizens to start private businesses.
C
Citizens must pay for most basic necessities by themselves.
D
There is no guarantee of steady employment for many citizens.
E
Citizens may pay higher taxes than in other economic systems.
F
Citizens often purchase their own health care and higher education.
5

Which statement best describes the body paragraphs of an argumentative essay?

A
The body paragraphs acquaint readers with the topic and set up the ideas that will be presented.
B
The body paragraphs establish the focus of the essay and tell readers what the writer’s position will be.
C
The body paragraphs tie the essay together and tell readers what they have learned and should take away.
D
The body paragraphs flesh out the argument and include counterclaims and evidence from research.
6

Opportunity cost means that something needs to be

A
replenished.
B
given up.
C
ignored.
D
paid for.
7

A pure market economy is sometimes called pure

A
a. command economy.
B
socialism.
C
communism.
D
capitalism.
8

What is one purpose of studying economics?

A
to understand the reasons why people purchase certain goods
B
to find reasons why some resources become scarce
C
to determine the principles that explain why consumers buy services
D
to examine principles that influence the production of goods and services
9

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

A
The counterclaim shows how the position is misleading.
B
The counterclaim shows how the opposing opinion is incorrect.
C
The counterclaim allows readers to state their own positions.
D
The counterclaim allows readers to provide their own interpretations.
10

Which of the following would be a producer?

A
someone owning a book store
B
someone shopping in a grocery store
C
someone putting gas in a car
D
someone waiting in line at a bank
11

Which of the following is influenced by personal economic choices? Choose four answers.

A
the cost of your rent and utilities
B
the resources you have available
C
the amount of money you spend on a bus pass
D
the money you decide to spend on leisure products
E
the amount of money you put into your savings account
F
the manner in which you balance your time between work and leisure
12

Which of the following would be considered a nonrenewable resource?

A
sun
B
wind
C
lumber
D
petroleum
13

[BLANK]

A
formal
B
casual
C
infomal
14

To create the proper tone for an argumentative essay, a writer should

A
include opinionated words.
B
add complicated language.
C
incorporate unusual stories.
D
use a straightforward approach.
15

The factors of production attempt to instill the idea that resources are

A
expensive.
B
scarce.
C
unlimited.
D
needed.

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