Read the Paragraph Below and Answer the Questions That Follow

question 26

Multiple Choice

Read the paragraph below and answer the questions that follow.
(1) Horace Bristol might be the only photographer to owe his fame to his child's book report. (2) Before he became an architect, Bristol had been a documentary journalist. (3) One day his teenage son was writing a report on The Grapes of Wrath , John Steinbeck's novel about an Oklahoma farm family forced off their drought-stricken land during the 1930s. (4) He asked his father if he'd ever read the book. (5) Not only had he read it, Bristol replied, he had dreamed up the idea for it, recruited Steinbeck to write it, and photographed thousands of real farm families forced to leave their homes. (6) After revealing his past to his son, Bristol the photographer came out of hiding. (7) Hoping to sell a few of his photographs, he was soon astounded by the prices they commanded. (8) Encouraged, he took up his camera once again. (9) Since then, the photographs of Horace Bristol have become famous. (10) His images of despair during the Depression, heroism in the Pacific during World War II, and postwar poverty and hope in rural Korea are among the greatest photographs of the twentieth century.
Select the number of the topic sentence that tells the point of the story.

• A) Sentence 1
• B) Sentence 2
• C) Sentence 10

Recognize the role of public goods and the problem of underproduction in a free-market economy.

Identify the importance of externalities and their impact on market efficiency.

Comprehend the significance of imperfect information in market transactions.

Understand the mechanisms through which market failures can be corrected.

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Definitions:

Concern For Production

Focuses on the emphasis a manager or organization places on the output and productivity levels of its operations.

Readiness

The state of being fully prepared for something or willing to do something; readiness may refer to individuals, organizations, or systems.

Ability

The capacity of an individual to perform actions or tasks effectively, based on skills, talent, or knowledge.

Willingness

The quality or state of being prepared to do something; readiness.