12. What is an important advantage of a free market?
a. It does not change unless the government directs it.
b. It offers a wide variety of goods and services.
c. It is easy to regulate.
d. It protects the less fortunate.
14. What is the product market?
a. The market in which payments are received for selling products to consumers
b. The market in which income is received for supplying land, labor or capital
c. The market in which firms purchase the factors of production from households
d. The market in which households purchase the goods and services that firms produce
20. What is one benefit provided by Social Security?
a. medical care for the indigent
b. cash transfers to workers injured on the job
c. compensation for all who lose jobs
d. retirement income for the elderly

