Author Question: In theory, what are free-market economies based upon? a. The supply of products b. The consumption ... (Read 146 times)

jrubin · **on:** Aug 22, 2018

In theory, what are free-market economies based upon?
a. The supply of products
b. The consumption of products
c. Pure competition
d. Government policies

Question 2

What is the second most valuable marine resource?
a. Gravel
b. Oil
c. Gas
d. Salt

bdobbins · **Reply #1 on:** Aug 22, 2018

Answer to Question 1

ANS: C
A true free-market economy only exists in theory. Pure competition should ensure that no single buyer
or seller can control or manipulate the market. Information can be found in the section Marine
Resources Are Subject to the Economic Laws of Supply and Demand.

Answer to Question 2

ANS: A
Sand and gravel are very important marine resources. They are the second highest in monetary value.
More than 1 billion metric tons of sand and gravel was excavated in 1998. Information can be found in
the section Physical Resources