Question 1

A)
Which events would be more common in a command economy than a market economy? Select all that apply.

(1 point)
Responses

People with lower incomes have the same goods as people with higher incomes.

People with lower incomes have the same goods as people with higher incomes.

People wait in long lines for cheap goods.

People wait in long lines for cheap goods.

New businesses are started to fill society’s unmet needs.

New businesses are started to fill society’s unmet needs.

Young college graduates have difficulties finding jobs.

Young college graduates have difficulties finding jobs.

A great deal of food in a market is thrown out because people wait in long lines for cheap goods.

A great deal of food in a market is thrown out because people wait in long lines for cheap goods.

Companies develop new and useful technologies.

Companies develop new and useful technologies.
Question 2
A)
What is allocation by need?

(1 point)
Responses

pricing goods based on want rather than need

pricing goods based on want rather than need

giving or selling goods only to people who most need them

giving or selling goods only to people who most need them

giving or selling goods to whoever will stand in line the longest

giving or selling goods to whoever will stand in line the longest

pricing goods so that even the most vulnerable members of society can afford them

pricing goods so that even the most vulnerable members of society can afford them
Question 3
A)
Which of the following are the basic economic questions? Select all that apply.

(1 point)
Responses

Where should goods be produced?

Where should goods be produced?

How should goods be produced?

How should goods be produced?

What goods are produced?

What goods are produced?

Which resources can be used for goods?

Which resources can be used for goods?

Who receives the produced goods?

Who receives the produced goods?

Why will people buy the goods?

Why will people buy the goods?
Question 4
A)
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)
Responses

Those that make helium-filled balloons educate the public about the uses of helium.

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 consume a resource that could be better used.

Helium-filled balloons increase the profits of helium-holding organizations.

Helium-filled balloons increase the profits of helium-holding organizations.

Helium-filled balloons create a motivation for mining companies to find helium pockets

Helium-filled balloons create a motivation for mining companies to find helium pockets

1 answer

Question 1

A) Which events would be more common in a command economy than a market economy? Select all that apply.

People with lower incomes have the same goods as people with higher incomes.
People wait in long lines for cheap goods.
Young college graduates have difficulties finding jobs.

Question 2

A) What is allocation by need?

Giving or selling goods only to people who most need them.

Question 3

A) Which of the following are the basic economic questions? Select all that apply.

Where should goods be produced?
How should goods be produced?
What goods are produced?
Who receives the produced goods?

Question 4

A) How might a weather scientist feel about the market for helium-filled balloons?

Helium-filled balloons consume a resource that could be better used.