. The \"Basic Economic Problem" is best stated as: a. To achieve a more equal distribution of income in order to reduce poverty b. Economic resources are scarce while human wants are unlimited c. To increase your exports so that they exceed your imports d. To establish a fair system of personal and business taxation . If Mr. Gory purchases a S 22, 000 car, what is the opportunity cost of his purchase? The annual interest payment on the money borrowed to buy the car a. b. The S 22, 000 spend on the car c. The depreciation of the car's value d. The next best alternative that could have been obtained instead of the car . In classical economics, Adam Smith's concept of the \"invisible hand\" is vital in understanding how economics evolved and progressed. What does this concept refer to? a. In a competitive environment, businesses promote prosperity in the economy by pursuing prots for themselves through competition with other firms b. The government is the invisible hand, promoting economic welfare c. Tariffs are the invisible hand, directing production within the market economy d. Monopolies compose an invisible hand, reducing competition between producers . Agraph with downward sloping "curve\" illustrates: a. A direct relationship between two independent variables b. A decreasing dependent variable as the independent variable increases c. An increasing dependent variable as the independent variable increases d. An inverse relationship between two independent variables . Which of the following is NOT considered to be an advantage of a market economy system? It is a consumer-oriented production system It provides strong work incentives for people It makes efcient use of economic resources It results in even distribution of income and wealth 9-!" F.\