Question

What occurs when two or more businesses in an industry agree to sell at a set price and eliminate price competition? (A) nonprice competition (B) price fixing (C) unifying (D) price ceiling The concept that states the cost of producing one unit of something decreases as the total number of units produced increases is called the (A) balance of trade. (B) trade deficit. (C) trade surplus. (D) economy of scale. How does shopping locally impact the environment? (A) locally grown food or locally made products are all created organically, whereas mass-produced food and products are not (B) locally grown food or locally made products are not transported as far, so less fuel is used to bring these items to the consumer (C) shopping locally strengthens your local economy, and that money will help improve your local environment (D) independent farms and businesses are taxed on their revenue, and those taxes go toward environmental protection How much of the energy consumer in the United States is provided by fossil fuels? (A) more than 80 percent (B) more than 90 percent (C) more than 95 percent (D) 100 percent What is a capital investment? ho (A) when a country can produce goods more efficiently and at a lower cost than another country (B) he purchase or sale of financial or real assets across national borders (C) money used to generate income or invest in a business or asset (D) money paid by an organization to help it remain in operation continued American School-Lansing, IL 2512

Answer 1

1.
Price fixing

2.
Economy of scale

3.
locally grown food or locally made products are not transported as far, so less fuel is used to bring these items to the consumer

4.
more than 80 percent

5.
money used to generate income or invest in a business or asset