Question

pregunta 7 (5 puntos)
when 2 or more businesses try to offer the best price or deal, there is ____.
○ a communism
○ b competition
○ c consumption
○ d specialization

pregunta 8 (5 puntos)
something unique about a market economy is ____, which allows people to own businesses and resources.
○ a consumer sovereignty
○ b market ownership
○ c private property rights
○ d global economy

Explanation:

Pregunta 7

To solve this, we analyze each option:

• Option a (communism) is an economic system, not related to businesses competing on price/deal.
• Option b (competition) occurs when businesses strive to offer better prices/deals to attract customers.
• Option c (consumption) is about using goods/services, not businesses' actions.
• Option d (specialization) is about focusing on a specific product/service, not price competition.

Analyzing each option:

• Option a (consumer sovereignty) is about consumers' power to choose, not owning businesses/resources.
• Option b (market ownership) is not a standard term for this concept.
• Option c (private property rights) allow individuals to own businesses and resources, a key feature of market economies.
• Option d (global economy) refers to worldwide economic activity, not ownership in a market economy.

Answer:

b. competition

Pregunta 8