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9) The basic coordinating mechanism in a free-market system is A) a central government authority. B) the corporation. C) quantity. D) price. 10) Which of the following is true of a market economy? and pill Rood, alone qurTIM A) It relies on millions of individual economic decisions to determine economic outcomes. B) The government answers the basic economic questions of what gets produced, how it gets produced, and who gets it. C) In its pure form, it is also known as a command economy. D) Decisions are regulated by a central agency. bobiveng avisit aboutone 11) Capital, labor, and land are A) factors of production. B) resources. C) inputs. D) all of the above. 12) Michael Dell was the first individual who sold computers by mail order. The company founded by Dell is now one of the largest and most successful computer companies in the United States. Michael Dell would be classified as a(n) A) monopolist. B) socialist. C) entrepreneur. D) opportunist. 13) The consuming units in an economy are known as A) factors. B) entrepreneurs. C) firms. D) households. 14) Which of the following is held constant along the demand curve? 21 mailunigtiMCA A) income B) quantity visnortibbe out gniew lane to choobig ertl (A C) price of the good D) both A and B bossin confirmagno filing doive aft nolloutie lostism a (U work to pbute adi (O 15) Which of the following will cause a shift in the demand curve for hoverboards? A) a change in taste or preference B) a change in wealth C) a change in incomeD) all of the above of errol luftore out bonnolanku ous esowomen reidy yd easonng ON Tica 16) The "law of demand" implies that nonesilatiqes ( nonmoolis ()) A) as prices fall, quantity demanded increases. B) as prices fall, demand increases. C) as prices rise, demand increases. ROO D) as prices rise, quantity demanded increases. wong offorges (& aboog !shigeo ni mornesym (A 17) If the demand for coffee decreases as income decreases, coffee is a(n) A) normal good. B) inferior good C) complementary good. D) substitute good