1.02 – economics
14 December 2020
question
Alpaca Yarn employs factory workers to hand spin wool yarn and fabric in a workshop on the company farm. Which economic questions does this statement answer?
answer
What to produce? How to produce?
question
Which statement below best answers the economic question How to produce?
answer
Marco uses locally harvested wood from a sustainable tree farm to make his products.
question
Tristan has gotten very good at painting characters in fantasy settings. He has just bought acrylic paint and canvas in bulk, intending to start a painting business. Which statement best addresses the next economic question Tristan needs to answer?
answer
Market to online game players.
question
Jenni wants to start a print shop making specialty papers and cards. Which economic question has she answered?
answer
What to produce?
question
XYZ Tutoring provides educational services for students struggling in math. Which economic question does students struggling in math answer?
answer
For whom to produce?