Which of these is an example of a capital resource?
(1 point)
Responses
workers
workers
iron ore
iron ore
entrepreneurs
entrepreneurs
computers
computers
computers
How does scarcity affect customers?
(1 point)
Responses
Limited money forces consumers to make choices.
Limited money forces consumers to make choices.
Limited time prevents customers from making decisions.
Limited time prevents customers from making decisions.
Limited numbers of producers force customers to be loyal.
Limited numbers of producers force customers to be loyal.
Limited wants and needs limit customers to small purchases.
Limited money forces consumers to make choices.
A fast-food chain makes the decision to rebrand itself as a mid-range adult café instead of a cheap kid-friendly restaurant. This change will involve using higher-quality ingredients and renovating to remove children’s playgrounds.
Question
Use the passage to answer the question.
What is the opportunity cost in the scenario above?
(1 point)
Responses
one-time expense of renovating restaurants
one-time expense of renovating restaurants
ongoing expense of high-quality ingredients
ongoing expense of high-quality ingredients
money that is expected to be provided by new adult customers
money that is expected to be provided by new adult customers
money that could have been made from families with young children
money that could have been made from families with young children
money that could have been made from families with young children
Jake decides to spend time over the weekend doing extra football practice. What is the most likely short-term consequence of his decision?
(1 point)
Responses
His football skills will get a little better.
His football skills will get a little better.
He will become a professional football player.
He will become a professional football player.
His coach will ask him to quit the team.
His coach will ask him to quit the team.
He will earn a football scholarship.
His football skills will get a little better.
Maria goes on a shopping trip to get ready for her vacation. She loads her cart with a bathing suit for $15.00, a sun hat for $8.00, magazines for $8.00, and a beach towel for $7.00. When she gets to the register, she realizes she only has $20.00 in her pocket.
Question
Use the passage to answer the question.
If Maria decides to purchase the sun hat and towel, what is the opportunity cost of her purchase? Select all that apply.
(1 point)
Responses
the sun hat
the sun hat
the towel
the towel
the magazines
the magazines
the bathing suit
the magazines
the bathing suit
Two grocery stores are located in the downtown area of a small city. The first offers excellent prices for buying large bulk quantities. The second does not have bulk offers, but offers lower prices on single items.
Question
Use the passage to answer the question.
Why would both these stores attract a good number of customers?
(1 point)
Responses
Customers value different types of deals.
Customers value different types of deals.
Customers have different brand loyalties.
Customers have different brand loyalties.
Customers patronize both stores to maintain competition.
Customers patronize both stores to maintain competition.
Customers do not have the information to choose the best option.
Customers do not have the information to choose the best option.