A baker in Arkansas wants to sell expensive cakes. She has already determined the tools and resources she will need to produce them. Which of the following best answers the third basic economic question for her business?
(1 point)
Responses
Her bakery would be located in an affordable area of Arkansas.
She would sell cakes to local residents with high incomes.
Her product line would also include cupcakes and pastries.
She would obtain flour and sugar from local manufacturers.
She would sell cakes to local residents with high incomes.
How does free trade affect the United States? Select all that apply.
(1 point)
Responses
lower prices
decreased wages
higher farm profits
less variety in businesses
more low-skill jobs
increased consumer choice
lower prices
higher farm profits
increased consumer choice