AnswersSS57 Principles and Practices of EconomicsEconomic Systems (continued)

Economic Systems (continued) — Unit test Answers

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Which of the following could be considered both a renewable resource and a nonrenewable resource?

A
iron ore
B
sea water
C
solar energy
D
wheat crop
22
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What is prohibited in a command economy? Select two answers.

A
the control of prices and income levels
B
the rationing of manufactured goods
C
the personal ownership of property
D
the influence of consumer demand
E
the intervention of the government
23

Read this excerpt from an argumentative essay.In a free enterprise system, companies can become more successful by beating their competitors in service and pricing. Mary Kay Ash’s innovative business plan used her reduced costs and her loyal, home-based sales team to beat the competition at providing cosmetics to American women.The excerpt has an effective style and tone because it is

A
formal and objective.
B
casual and friendly.
C
strong and passionate.
D
subjective and opinionated.
24

Read the excerpt from the body paragraph of an argumentative essay about entrepreneurs and free enterprise.In a free enterprise system, companies can become more successful by beating their competitors in service and pricing. Mary Kay Ash’s innovative business plan used her reduced costs and her loyal, home-based sales team to beat the competition at providing cosmetics to American women.Why is this excerpt an example of a strong argument?

A
It provides a citation as evidence to support the claim.
B
It states a counterclaim and demonstrates why it is incorrect.
C
It includes a clear topic sentence and provides effective support.
D
It is nonspecific so that readers can provide their own interpretations.
25

How would a manufacturer benefit by using fewer scarce resources?

A
The product would be less expensive to produce.
B
The product would better satisfy consumer needs.
C
The product would be popular and readily available.
D
The product would provide a more satisfactory profit.

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