Unit Test — Unit test Answers
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Review the graph.
A
Consumer demand for microwave ovens has risen over time.B
The cost of plastic and other raw materials has slowly increased.C
Microwave ovens have become much less expensive to produce.D
The price of microwave ovens has shifted to match the cost of living.23
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What is the first question people should ask themselves when they’re about to make an economic decision?
A
“How much do I value or need this?”B
“What do I have to give up now to get this?”C
“What will others think of me if I get this?”D
“What will I be giving up in the future to get this?”24
Which scenario describes a monopoly?
A
Company X and Company Y both produced farm tractors. Company X bought Company Y, making the merged company the largest supplier of tractors in the Midwest.B
Berry Gordy Jr. founded Motown Records in 1959. Over time, the Black-owned business became one of the most success independent record labels.C
In the late 1800s, Carnegie Steel controlled the steel supply in the United States. This allowed the company to set prices for steel throughout the United States.D
A large supermarket chain moved into a neighborhood and offered low prices. Unable to compete, the neighborhood’s small independent grocery store closed.25
Read the scenario, then review the graph.Ramon is a music fan who enjoys going to concerts. In the past, he was able to pay for several shows a year. The inflation-adjusted rate for a ticket he bought in 1985 would be $36.85 today. Ramon is working in the same job that he had then, and his salary has increased by the typical cost-of-living rate.
A
He probably has lost any interest in paying for concerts.B
He probably goes to more concerts than he did in 1985.C
He probably goes to fewer concerts than he did in 1985.D
He probably goes to the same number of concerts as always.Did you find these answers helpful?
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