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 increases the demand for products of 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 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
a customer satisfaction survey
a special holiday sale
Malik cuts lawns in his neighborhood to earn some extra money. His neighbors agree to pay him $15.00 to take care of their lawns for the week, and at that price, Malik is willing to set aside enough time to take care of four lawns. After a few heavy rainstorms that cause the grass to grow more quickly, several of Malik’s other neighbors offer him $20.00 to cut their lawns.
Use the passage to answer the question.
What effect could this price increase have on Malik’s lawn-cutting business? (1 point)
(1 point)
Responses
Malik will not need to cut lawns anymore.
Malik will not need to cut lawns anymore.
Malik will be willing to charge more people less money.
Malik will be willing to charge more people less money.
Malik will cut lawns every day instead of just once a week.
Malik will cut lawns every day instead of just once a week.
Malik will be willing to take care of more lawns that week at the higher price.
Malik will be willing to take care of more lawns that week at the higher price.
Malik will be willing to take care of more lawns that week at the higher price.
Which of the following is a characteristic of a market economy?
(1 point)
Responses
weak property rights
weak property rights
limited role of government
limited role of government
no consumer choice
no consumer choice
lack of competition
limited role of government
Labor unions are most closely tied to which type of productive resource?
(1 point)
Responses
entrepreneurship
entrepreneurship
natural resources
natural resources
capital resources
capital resources
human resources
human resources