Econ: Introduction to Economics – Flashcards
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scarcity
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What forces businesses, industries, and governments to make decisions?
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buying goods
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Which best describes the role of a consumer?
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filling a lawnmower with gas
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Which activity would a consumer most likely perform?
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sufficient products to meet consumer wants
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The idea of supply and demand is based on the development of
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by helping you understand that every choice has a tradeoff
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What is one way that economics can influence your daily life?
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serve in a coffee shop
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A producer would most likely
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consequences and tradeoffs
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A person studying economics can make better choices about purchases if that person understands
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how to make good decisions within an economy
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William Poole believes economics should be taught in schools because students will learn
