Introduction to Economics

Question 1

✔ producers consumers

Revolt · Accepted Answer

A: producers

Question 2

Which statements accurately describe the roles of producers and consumers? Check all that apply.Producers make and sell things.Consumers buy goods and services.Producers buy goods and services.Consumers make and sell things.Producers provide services to consumers.Consumers provide capital to producers.

Revolt · Accepted Answer

A: Producers make and sell things.; B: Consumers buy goods and services.; E: Producers provide services to consumers.

Question 3

Which statements accurately show the concept of scarcity? Check all that apply.There is a drought in the middle of growing season that has affected corn crops.An individual is not able to purchase a newly released video because of limited supplyA family is selling apples they have grown on their farm because they have too many to eat themselves.An individual wants to buy a new car because his is old.An individual decides that she needs to obtain a second job to save money to purchase a house.

Revolt · Accepted Answer

A: There is a drought in the middle of growing season that has affected corn crops.; B: An individual is not able to purchase a newly released video because of limited supply; E: An individual decides that she needs to obtain a second job to save money to purchase a house.

Question 4

Question 4

Revolt · Accepted Answer

A

Question 5

Which of these producer activities did you participate in this week? Check all that apply.

Revolt · Accepted Answer

A: I served people at a restaurant, hotel, coffee shop, or other business.

Question 6

Question 6

Revolt · Accepted Answer

Answer

Question 7

What did you include in your paragraph? Check all that apply.

Revolt · Accepted Answer

A: A topic sentence

Question 8

Create an outline of your paragraph about your participation in the economy this week.Describe how you were a consumer or producer, and any economic decisions that you made.

Revolt · Accepted Answer

A. Introduction: topic sentence describing participation in the economy through buying and selling B. Examples: bought a book for my e-reader instead of music; sold coffee at work C. Economic principles: consumer (buying), producer (selling), opportunity cost D. Conclusion: summary of economic participation through acting as a consumer and producer

Question 9

producers✔ consumers

Revolt · Accepted Answer

B: consumers

Question 10

Which of these things are included in your outline? Check all that apply

Revolt · Accepted Answer

A: A topic; B: Examples of how I used economics; C: Economic words; D: A summary

Introduction to Economics Answers

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