Figure 1.13 -Based on the Energy-Related Graph in Figure 1.13 of Your

question 15

Multiple Choice

Figure 1.13
-Based on the energy-related graph in Figure 1.13 of your textbook, what is the ratio of the amount of solar energy reaching Earth's surface to the amount of energy required to drive plate tectonics?

• A) 10 000 to 3
• B) 3 to 10
• C) 10 to 3
• D) about 100 to 1

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Definitions:

Average Costs

The total costs of production (fixed and variable) divided by the total quantity of output produced.

Central Planning Model

A system of economy where all choices regarding the creation and use of goods and services are made by the government.

American Capitalism

A system marked by private property, competitive markets, economic incentives, and limited government intervention in the economy.

Product Differentiation

The technique of identifying a product or service as unique in the market to boost its desirability to a chosen target demographic.