Introduction To Economics Answers – Flashcards
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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
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by defining the number of leisure activities
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What is one way that economics can influence your daily life?
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necessary capital.
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Consumers influence producers because consumers supply
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a quality control manager who works in a busy restaurant
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Which individual is a producer?
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consequences
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A person studying economics can make better choices about purchases if that person understands
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NOT- the numbers of previous models stored in the warehouse
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Based on the lesson, what would most effect the price of a new laptop computer?
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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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the impact of the decision on your available resources
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Which factor should be most important if you are considering purchasing a new video game?
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role of government in regulating production.
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Becoming informed about economics helps a person understand the
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scarcity
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What forces businesses, industries, and governments to make decisions?
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scarcity
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What determines the balance of production and consumption?
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NOT growing vegetables in a home garden
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Which activity would a consumer most likely perform?
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a person buying a used car due to limited income
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Which situation best illustrates the concept of scarcity?
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by defining the number of leisure activities
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What is one way that economics can influence your daily life?
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consuming
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Economics is the study of producing and ____ goods and services.
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serve in a coffee shop.
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A producer would most likely
