Minnie & Mickey Mouse are opening a cookie shop. They must purchase an oven for their business. What type of cost is the purchase of the oven?

Question

A. A variable cost
B. A fixed cost
C. An opportunity cost
D. A dependent cost

Answer 1

B. A fixed cost

Answer 2

Which statement describes one advantage of a market economy?
A. Nonproductive resources are rewarded.
B. The government owns the productive resources.
C. A high degree of individual freedom is offered.
D. A large bureaucracy is required to make economic decisions.

Answer 3

C. A high degree of individual freedom is offered.