Which of the following statements most clearly aligns with the economic theories of Karl Marx?

Profit drives both economic growth and economic equality.

corporation taps oil reserves in a developing country's rainforest. Which of the following is a potential positive ext

Improved roadways for moving equipment

Which of the following is a reason that businesses invest in capital, such as technology and new equipment?

Increase production possibilities

Which of the following statements is true of a traditional economy?

People produce and consume only the goods they need.

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unit 1 Econ review

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Answers

1
All choices can have unintended consequences. When those outcomes affect someone who had no part in the initial choice?
Eminent domain
Externality
Free resource
Free market
2
In which of the following economic systems does the government play the largest role?
Command Economy
None of the Above
Market Economy
Mixed Economy
3
Which of the following statements most clearly aligns with the economic theories of Karl Marx?
Government manages the economy to prevent economic inequality.
Businesses are regulated to prevent socioeconomic collapse.
Profit drives both economic growth and economic equality.
Free-market forces ensure a healthy and efficient economy.
4
Your friend wants to open a taco stand. A necessary labor resource is…
avocados
a truck
a cook
a grill
5
Which of these are considered broad economic goals?
Dependability, equity, efficiency
Security, justification, equality
Freedom, equity, growth
Reliability, honesty, freedom
6
Your friend wants to open a clothing shop. A necessary capital resource is a…
license to conduct business
roadside billboard advertisement
building to open the shop
knowledgeable fashion manager
7
corporation taps oil reserves in a developing country's rainforest. Which of the following is a potential positive ext
Decreased use of local fuel sources
Improved roadways for moving equipment
Increased profits for the drilling company
Better knowledge of rainforest plants
8
Which of the following is a reason that businesses invest in capital, such as technology and new equipment?
Maintain production possibilities
Increase production possibilities
Decrease production possibilities
A rationale cannot be determined
9
Which of the following statements is true of a traditional economy?
People produce a variety of goods for local, regional, and global trade.
People produce goods according to the dictate of government.
People produce and consume only the goods they need.
People produce goods to make a profit.
10
Which of the following describes the U.S. economy?
Mixed, Command-Driven
Primarily Tradition
Command-Based
Mixed, Free Market-Driven

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