Multiple Choice
Scenario 4-1
In a given year, country A exported $12 million worth of goods to country B and $6 million worth of goods to country C; country B exported $4 million worth of goods to country A and $7 million worth of goods to country C; and country C exported $5 million worth of goods to country A and $2 million worth of goods to country B.
-Which of the following is a possible advantage of a free market condition?
A) In a free market, consumers are offered discounts on the purchase of products.
B) In a free market, all goods and services are offered for free to households below the poverty line.
C) In a free market, continuous government intervention helps keep the price of products under control.
D) In a free market, competition among sellers helps the consumers purchase a product at the lowest possible price.
E) In a free market, consumers have limited products to choose from, thereby assuring less confusion and better quality.
Correct Answer:

Verified
Correct Answer:
Verified
Q15: Figure 5.2. The figure shows the supply
Q16: Figure 5.3. The figure shows the wage
Q17: Figure 5.2. The figure shows the supply
Q18: Figure 5.3. The figure shows the wage
Q19: Figure 5.3. The figure shows the wage
Q21: Figure 5.2. The figure shows the supply
Q22: Figure 5.3. The figure shows the wage
Q23: Figure 5.3. The figure shows the wage
Q24: Figure 5.2. The figure shows the supply
Q25: Figure 5.2. The figure shows the supply