All Econ Study Guide Test.
All Econ Study Guide Test. Which of these statements accurately describes econmics? - CORRECT ANSWER A. Economics is the study of how goods and services are made and sold. B.The principle of scarcity is a driving force of economic decisions. D.Producers and consumers interact to influence the economy. Individuals who make and sell goods and services are - CORRECT ANSWER Producers Individuals who buy goods and services are - CORRECT ANSWER consumers The idea that resources are ________ is called scarcity - CORRECT ANSWER Limited Which statement accurately describes the roles of producers and consumers? - CORRECT ANSWER A. Producers make and sell things B. Consumers buy goods and services. D.Producers provide services to consumers Economics is the study of producing and _____ goods and services - CORRECT ANSWER Consuming An economist MOST LIKELY spends time studying - CORRECT ANSWER interactions between producers and consumers. Which individual is acting MOST like a consumer? - CORRECT ANSWER B. A person who hires a mechanic to fix their car. Which factor should be MOST important if you are considering purchasing a new video game? - CORRECT ANSWER The other things you could do with your money instead
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