1.

(01.01 LC) Which of the following must be true for a good for which there is demand and a limited supply? (2 points)

	The good has no utility.
	The good's producer enjoys a comparative advantage.
	Most consumers will find the good their optimal choice.
	The good is scarce.
	The production of the good will have a constant opportunity cost.

2.

(01.01 MC) Which of the following is an example of a non-rival good? (2 points)

	Fireworks for everyone in their sightline
	A toll road
	A glass of water
	Seats at a movie theater
	An unclaimed spot on a beach

3.

(01.02 MC) The government of country X owns the means of production, determines incomes and investment, and decides what goods should be produced and how they should be traded. What economic system does Country X have? (2 points)

	Command
	Capitalist
	Entrepreneurial
	Free Enterprise
	Mixed

4.

(01.02 MC) The government of Country Y does not regulate businesses in any way. It does not set minimum prices for any goods or regulate wages. It allows individuals to make independent decisions that impact the economy. What economic system best describes Country Y? (2 points)

	Command
	Free enterprise
	Market
	Mixed
	Indeterminate

5.

(01.03 LC) Which of the following economic models is designed to illustrate trade-offs and production that is efficient, is impossible, or fails to use all available resources? (2 points)

	Circular flow diagram
	Supply curve
	Demand curve
	Marginal cost curve
	Production possibility curve

6.

(01.03 MC) Use the graph to answer the prompt. (2 points)