Introduction to Economics: Green Business and Market Forces

What is the primary mission of the United States Environmental Protection Agency (EPA)?

• To regulate international trade

• To protect human health and the environment

• To manage national parks

• To oversee financial institutions

Which of the following is NOT a focus area of the EPA?

• Pollution

• Climate change

• Space exploration

• Hazardous waste disposal

The law of supply and demand states that the price of a product is determined by the relationship between the supply of a product and the ________ for the product.

• demand

• cost

• quality

• availability

What is the point called where supply equals demand for a product?

• Surplus

• Deficit

• Equilibrium

• Inflation

Which economic factors affect the price, demand, and availability of a good or service?

• Market forces

• Government policies

• Technological advancements

• Cultural trends

In a free enterprise system, decisions related to market forces result in the production of goods and services at the most ________ prices.

• expensive

• attractive

• stable

• unpredictable

What does the supply curve show in the law of supply and demand?

• Producers' willingness to supply more goods at higher prices

• Consumers' willingness to buy more goods at lower prices

• The government's control over pricing

• The impact of inflation on supply

What is the term for the quantity of goods that consumers want to purchase?

• Supply

• Demand

• Market price

• Equilibrium

Green businesses lead by example and educate their employees on ________ business practices.

• traditional

• sustainable

• competitive

• innovative

Through sustainability training, employees learn the importance of going ________ at work.

• fast

• green

• digital

• global