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 value different types of deals.
Which situation is more likely to occur in a market economy than a command economy?
(1 point)
Responses
People line up for cheap but scarce products.
People line up for cheap but scarce products.
A student is guaranteed a job out of college.
A student is guaranteed a job out of college.
An inventor designs and produces a new type of car.
An inventor designs and produces a new type of car.
A committee chooses which farms should receive new tractors.
An inventor designs and produces a new type of car.
How does the use of plastic to produce bicycle helmets affect other plastic-using industries?
(1 point)
Responses
It decreases the prices offered by other industries.
It decreases the prices offered by other industries.
It increases the demand for products of other industries.
It increases the demand for products of other industries.
It increases the capital available to other industries.
It increases the capital available to other industries.
It decreases the amount of resources available to other industries.
It increases the demand for products of other industries.
Many employees of a local restaurant suddenly quit and seek other opportunities. What is the most likely explanation for the large number of employees quitting?
(1 point)
Responses
a developing price war
a developing price war
a protest action by the union
a protest action by the union
decrease in positive incentives to work
decrease in positive incentives to work
decrease of negative incentives to being unemployed
decrease in positive incentives to work
Which of these is an example of a monetary incentive?
(1 point)
Responses
having fun walking a dog
having fun walking a dog
making friends on a sports team
making friends on a sports team
learning a new skill by studying it
learning a new skill by studying it
earning an allowance for doing chores