Introduction to Economics
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Which situation best illustrates the concept of scarcity?
a person buying a used car due to limited income
Consumers influence producers because consumers supply
necessary capital.
Which best describes the role of a consumer?
buying goods
Which activity would a consumer most likely perform?
filling a lawnmower with gas
Studying economics best helps an individual determine how to achieve economic
goals.
An economist most likely spends time studying
interactions between producers and consumers.
What determines the balance of production and consumption?
scarcity
A producer would most likely
serve in a coffee shop.
Based on the lesson, what would most effect the price of a new laptop computer?
the demand for the added performance elements
