What is allocation by need?
(1 point)
O pricing goods based on want rather than need
O giving or selling goods only to people who most need them
O giving or selling goods to whoever will stand in line the longest
O pricing goods so that even the most vulnerable members of society can afford them
The correct answer is: O giving or selling goods only to people who most need them
Which events would be more common in a command economy than a market economy? Select two that apply.
(1 point)
People with lower incomes have the same goods as people with higher incomes.
O People wait in long lines for cheap goods.
O New businesses are started to fill society's unmet needs.
O Young college graduates have difficulties finding jobs.
O A great deal of food in a market is thrown out because people wait in long lines for cheap goods.
O Companies develop new and useful technologies.
The events that would be more common in a command economy than a market economy are:
- People wait in long lines for cheap goods.
- Young college graduates have difficulties finding jobs.
Which of the following are the basic economic questions? Select three that apply.
(2 points)
O Where should goods be produced?
O How should goods be produced?
O What goods are produced?
O Which resources can be used for goods?
O Who receives the produced goods?
O Why will people buy the goods?
The basic economic questions are:
- What goods are produced?
- How should goods be produced?
- Who receives the produced goods?
Helium is most known for its uses in floating
balloons, but it has many scientific applications,
such as preparing NASA rockets, testing aircraft in
wind tunnels, and lifting weather monitoring
equipment into the upper atmosphere. However,
once released into the atmosphere, helium cannot
be recovered.
Use the passage to answer the question.
How might a weather scientist feel about the
market for helium-filled balloons?
(1 point)
Those that make helium-filled balloons educate the public about the uses of helium.
Helium-filled balloons consume a resource that could be better used.
Helium-filled balloons increase the profits of helium-holding organizations.
Helium-filled balloons create a motivation for mining companies to find helium pockets.