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Answer:
Introduction to Economics Unit Test!! Add me on sc to work together!! Kxmiyo_88
Explanation:
1. A small business has one team that installs new swimming pools and four employees that clean and maintain pools. Which of the following is a service that is provided by this business to its customers?
Pool Cleaning
2. Which of the following is an example of physical capital that might be used by a business to install and service car tires?
Hydraulic Lift for cars
3. A sports collector is considering the purchase of either a hockey jersey or a baseball that was struck for a home run. If the collector chooses to purchase the jersey, what is the opportunity cost?
The net value of the ball for the collector
4. A farmer must decide between growing peppers or growing tomatoes. Which trade-off is the farmer considering?
the profit of growing peppers, compared to the profit of growing tomatoes
5. Kendra is trying to decide whether to go to Abby's house to watch a movie or to go to Samuel's house to play board games. They live about the same distance away, and there is no cost for either event. If she chooses to go to Abby's house, what is the opportunity cost?
The net value to Kendra of going to Samuel's house to play games.
6. Sergei had to decide among watching a two-hour movie with a cost of $20, buying a book to read for $10 that would take about four hours to read, and going to a three-hour concert for $30. If he considers the benefit of each situation to be proportional to the amount of time, with a value of about $50 per hour, what is the opportunity cost of the best decision?
$120
7. A small manufacturing firm has two products that are produced using its in house 3-D printers. The budget and time constraints for this process give the production possibilities curve that is defined by the table below. If the company is currently producing 30 units of product A and 39 units of product B, can the production of product B be increased? Explain.
Yes, the production of product B can be increased up to 51 by decreasing the volume for product A.
8. Which points are most efficient for the utilization of resources on a production possibilities diagram?
points inside the curve
The principle of a free enterprise system that best explains why the businesses in an industry cannot maintain an artificially high price is A. open opportunity.
What is a free enterprise system?
A free enterprise system is an economic system where the forces of market demand and supply rule. There is minimal or no government involvement in the marketplace decisions. Government can set rules, but it does not control the activities of consumers and suppliers.
Thus, the principle of a free enterprise system that explains why businesses cannot maintain high prices is not producer sovereignty, profit, property rights, but open opportunity because there is free entrance and exit of competitors and substitute products and services.
Learn more about free enterprise system at https://brainly.com/question/3369578
