question

Which best describes the role of a consumer?

answer

buying goods

question

Consumers influence producers because consumers supply

answer

necessary capital.

question

Studying economics best helps an individual determine how to achieve economic

answer

goals.

question

A producer would most likely

answer

serve in a coffee shop.

question

Based on the lesson, what would most effect the price of a new laptop computer?

answer

the demand for the added performance elements

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question

An economist most likely spends time studying

answer

interactions between producers and consumers.

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question

Which activity would a consumer most likely perform?

answer

filling a lawnmower with gas

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question

Which situation best illustrates the concept of scarcity?

answer

a person buying a used car due to limited income

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question

What determines the balance of production and consumption?

answer

scarcity

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Introduction To Economics Test – Flashcards

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