US Global Economics 2.02 Quiz: Consumers and Producers – Flashcards

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question
In the game of economics, every person alive plays the role of which of the following?
answer
consumer
question
Which can intensify peer pressure?
answer
btrends
question
Which best explains how consumers' purchases influence the decisions of producers?
answer
Producers can figure out what consumers are willing to pay based on what they buy.
question
Which best describes the purpose of market research?
answer
helping producers make more money
question
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?
answer
consumers
question
Which consumer purchase is the result of cultural influences?
answer
a turkey for Thanksgiving dinner
question
In economics, workers are producers. Which other role do they play?
answer
consumers
question
In economics, which is the major role of business?
answer
organize production
question
Which helps producers figure out what consumers want?
answer
market research
question
Which describes the economic role of a producer?
answer
provides goods and services
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