Answer:
Consumer preferences and resource scarcity determine which goods are produced and in what quantity; the prices in a market economy act as signals to producers and consumers who use these price signals to help make decisions. Governments play a minor role in the direction of economic activity. true
Explanation:
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Answer:
(C) Expand her current menu to include other products and flavors.
Explanation:
The safer option that would incur lower costs would be for Arlene to expand her store's menu with other products such as water, hot chocolate, and other types of candy. That would be the best alternative because her store already has fixed costs in place, so adding new products would only increase the variable cost and open up new sources of revenue and could be a good source of profit. Conversely, opening new branches, hiring people or advertising would increase costs without opening a new source of revenue.
Answer:
The only correct statement is D) Included in the category of resources called land
Explanation:
Land is a natural resource, whether it is use for agriculture, for conservation purposes, for hunting game, or for appropriation and exploitation of other resources.
All the other statements are wrong:
- A is wrong because some natural resources have value in themselves. For example, coal can be transformed to produce other things, or be extracted, and use in its pure form to produce energy.
- B is wrong because most natural resources are scarce: oil is scarce, natural gas is scarce, and even land itself is scarce. The planet Earth does not have unlimited dimensions.
- C is objectively wrong because most natural resources are exclusionary and have to be paid for. Oil has to be paid for, same thing for coal, crops grown in land, and so on. Some people might believe that natural resources are free and unlmited, but that would be a misconception.
