How does scarcity affect customers? (1 point)
Limited time prevents customers from making decisions.
It encourages strong economic growth
Limited money and resources forces consumers to make choices.
Limited wants and needs limit customers to small purchases.
Limited money and resources forces consumers to make choices.
Which of the following goods or services is an import to the United States? (1 point)
oil bought by the United States from the Middle East
software created in California and used in Chicago
apples grown on a farm in Vermont
an automobile that is manufactured in the USA
oil bought by the United States from the Middle East
8. Which of the following is a characteristic of a Command Economy? (1 point)
citizens can open a business and set prices
limited government control
government control
surplus of resources
government control
9. Which of these is an example of a monetary incentive? (1 point)
learning a new skill by studying it
earning an allowance for doing chores***
having fun walking a dog
making friends on a sports team
earning an allowance for doing chores
Which situation is more likely to occur in a Market Economy than a Command Economy? (1 point)
a citizen designs a new game and opens a store to sell it
people line up for scarce products.
the government controls all aspects of business
government sets prices on good sold
a citizen designs a new game and opens a store to sell it
Trade barriers are designed to protect producers in the country from being put out of business by foreign producers with lower prices & to prevent trade deficits from happening. (1 point)
True
False