Chapter 4 Quiz - Chapter4Quiz...

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Chapter 4 Quiz Your response has been submitted successfully. Points Awarded  6 Points Missed  4 Percentage  60% 1. According to the text, the point on its PPC that a society will choose will be determined  by A. producers in a market system. B. consumers in a market system. C. the government. D. demand and supply. E. the desires of producers and consumers. Correct Points Earned: 1/1 Correct Answer: D Your Response: D 2. The term consumer sovereignty refers to
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A. the fact that consumers’ choices are limited  to what the producers decide to produce. B. a situation in which the government decides  what is produced. C. the idea that consumers ultimately  determine what is produced. D. the idea that consumers try to maximize  their expenditures. E. the idea that the desires of both producers  and the government ultimately determine  what is produced. Correct
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Chapter 4 Quiz - Chapter4Quiz...

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