Lesson 9 TCI Test: Choices in a Free Market

Which of the following people is earning money by providing a service?

• Anthony grows fruit to sell.

• Laura sews stuffed animals.

• Carl sells lemonade he makes.

• Marie teaches a third grade class.

Which of the following will increase the profit at a lemonade stand?

• using cheaper lemons

• using more ingredients

• selling during cold weather

• giving glasses away for free

At Georgia's fruit stand, she sells apples. The _____________ of apples is how many she has to sell.

• buyer

• demand

• seller

• supply

Oprah and Bill Gates are entrepreneurs because they

• watched television all day long.

• spent all their time on the internet.

• grew fruits and vegetables to sell.

• took risks to start their own businesses.

A new toy becomes very popular, and many people want it. How will the price of the toy change?

• Price will go up.

• Price will go down.

A new bakery moves into the neighborhood. Now there are many more cookies that people can buy. How will the price of cookies change?

• Price will go up.

• Price will go down.

Cold weather in Florida kills many trees that grow oranges. How will the price of oranges change?

• Price will go up.

• Price will go down.

Julie sells hot chocolate during the winter. This winter has been very warm. How will the price of hot chocolate change?

• Price will go up.

• Price will go down.

One company charges a high price to ship mail quickly. Soon many other companies start shipping mail just as quickly. How will the price of this service change?

• Price will go up.

• Price will go down.

How can you earn money?

• by owning your own business

• by providing a service to others

• by making something and selling it.

• all of the above