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 decreases the amount of resources available to 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 price competition?
(1 point)
Responses
a new advertising campaign
a new advertising campaign
a loyalty rewards program
a loyalty rewards program
a special holiday sale
a special holiday sale
a customer satisfaction survey