Among the options provided, water is considered a natural resource. Money, labor, and plastic are not classified as natural resources; money is a form of currency, labor refers to human effort, and plastic is a synthetic material.
Which of the following is considered a natural resource? (4 points)
Responses
Money
Money
Labor
Labor
Plastic
Plastic
Water
11 answers
What is a definition of opportunity cost? (4 points)
Responses
Giving up something to get something else.
Giving up something to get something else.
Playing a game.
Playing a game.
Not enough of something
Not enough of something
Who knows!
Responses
Giving up something to get something else.
Giving up something to get something else.
Playing a game.
Playing a game.
Not enough of something
Not enough of something
Who knows!
The correct definition of opportunity cost is: Giving up something to get something else. Opportunity cost refers to the value of the next best alternative that you forgo when making a choice.
What is supply? (4 points)
Responses
How much people want an item
How much people want an item
How much of an item is available
How much of an item is available
A closet to keep things in
A closet to keep things in
What say what???
Responses
How much people want an item
How much people want an item
How much of an item is available
How much of an item is available
A closet to keep things in
A closet to keep things in
What say what???
The correct definition of supply is: How much of an item is available. Supply refers to the quantity of a good or service that producers are willing and able to offer for sale at different prices in a given period.
What is demand? (4 points)
Responses
A mean boss yelling at you!
A mean boss yelling at you!
What did you call me?? Ohhh no you didn't!!
What did you call me?? Ohhh no you didn't!!
How much people want an item or service.
How much people want an item or service.
How much of an item or service is available.
Responses
A mean boss yelling at you!
A mean boss yelling at you!
What did you call me?? Ohhh no you didn't!!
What did you call me?? Ohhh no you didn't!!
How much people want an item or service.
How much people want an item or service.
How much of an item or service is available.
The correct definition of demand is: How much people want an item or service. Demand refers to the desire of consumers to purchase goods or services and their willingness to pay for them at various prices.
Intellectual property rights protects a persons ideas. (2 points)
Responses
True
True
False
Responses
True
True
False
True. Intellectual property rights are designed to protect a person's ideas, inventions, and creations, giving them certain exclusive rights to use and benefit from their intellectual output.
Money stays at the same value over time. (2 points)
Responses
True
True
False
Responses
True
True
False
False. Money does not stay at the same value over time. Factors such as inflation, changes in supply and demand, and economic conditions can affect the purchasing power of money, causing its value to fluctuate.
1 answer