US Global Economics 2.02 Quiz: Consumers and Producers – Flashcards
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In the game of economics, every person alive plays the role of which of the following?
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consumer
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Which can intensify peer pressure?
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btrends
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Which best explains how consumers' purchases influence the decisions of producers?
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Producers can figure out what consumers are willing to pay based on what they buy.
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Which best describes the purpose of market research?
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helping producers make more money
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In the game of economics, who gives producers the information they need to determine how much people are willing to pay for a good or service?
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consumers
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Which consumer purchase is the result of cultural influences?
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a turkey for Thanksgiving dinner
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In economics, workers are producers. Which other role do they play?
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consumers
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In economics, which is the major role of business?
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organize production
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Which helps producers figure out what consumers want?
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market research
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Which describes the economic role of a producer?
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provides goods and services
