1. what type of economic system exists when individuals answer the three basic economic questions?
a. mixed
b. market
c. command
d. traditional

2. what term defines the income paid to the owner of land, labor, or capital in return for productive service?
a. cost
b. price
c. factor payment
d. economic system

3. if a society answers the three basic economic questions by relying on ritual, ancestral laws, and religious dictates, what type of economic system is it using?
a. mixed
b. market
c. command
d. traditional

Which of these things did galileo not do? a. stop publishing his scientific work after being convicted of heresy b. invent the concept of acceleration c. experiment with rolling balls down ramps of increasing steepness to test how objects would fall d. argue that earth moves around the sun e. make up a thought experiment that indicated that objects would fall at the same rate

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Pear co.’s income statement for the year ended december 31, as prepared by pear’s controller, reported income before taxes of $125,000. the auditor questioned the following amounts that had been included in income before taxes: equity in earnings of cinn co. $ 40,000 dividends received from cinn 8,000 adjustments to profits of prior years for arithmetical errors in depreciation (35,000) pear owns 40% of cinn’s common stock, and no acquisition differentials are relevant. pear’s december 31 income statement should report income before taxes of