1. With specialization in a market economy, individual
a. Firms produce a wide range of products
b. Producers consume little or none of the products they produce
c. Producers consume most of the output that they produce
d. Consumers have to produce most of what they consume
2. Which of the following is considered an economic resource?
a. The ice cream that kids buy at the ice cream parlor
b. The HD-TV sets in people's homes
c. The land that is designated as national parks by
d. the government shoppers buying stuff at the mall

3. In a market system, a consumer's willingness to payâbut not his ability to payâis based on his income. True False