According to the figure, very little ________ is/are used to generate electricity.

According to the figure, very little ________ is/are used to generate electricity.

A) natural gas
B) coal
C) nuclear energy
D) renewables
E) oil

Answer: E

If a nonrenewable resource such as oil suddenly became scarce while demand remained constant, the price of the resource would ________.

If a nonrenewable resource such as oil suddenly became scarce while demand remained constant, the price of the resource would ________.

A) increase
B) move down the demand line
C) decrease
D) move down the supply line
E) remain unchanged

Answer: A

The graph illustrates ________.

The graph illustrates ________.

A) marginal benefit and cost curves
B) the costs of resource use and pollution reduction
C) internal and external costs associated with market economies
D) how price is determined by supply and demand
E) how price falls when demand is high

Answer: D

The intersection of the two lines (the middle of the "X") on the graph represents ________.

The intersection of the two lines (the middle of the "X") on the graph represents ________.

A) the maximum price buyers will pay for goods and services
B) the minimum price buyers will pay for goods and services
C) the maximum quantity of goods and services that a company can produce
D) the minimum quantity of goods and services that a company can produce
E) market equilibrium

Answer: E