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What activity is the most likely for a consumer to engage in?
Which is the best description of the consumer's role?
A consumer is someone who purchases products or services only for their own personal use, and not for resale or manufacture. The role of a customer is best described by buying goods. Correct answer: A Marketing and advertising can influence consumers and play an important role in marketing.
The next question is: How can economics influence your daily life? By forcing you to make a career decision. Limit your potential to save money. By helping you to understand that each choice comes with a tradeoff.
Hence, the fundamental problem that producers and consumers are facing is:
Scarcity is the fundamental problem that both consumers and producers face. Scarcity refers to the economic problem of societies not having enough productive resources to produce all that people desire.
What drives governments and businesses to take decisions?
Answer Expert Verified. In democratic societies, consumers demand is what forces governments, businesses, and industries to make decisions. This is because it is the heart of a market economy, which is the driving force behind many of the democracies' economies.
Which best describes the main purpose of a budget?
Which group of players use the goods and services?
Which consumer influences are represented?
Which best describes discretionary spending?
Which best describes how advertising influences consumer choice in an oligopoly quizlet?
What is the primary role of a producer?
Which term refers to the personal satisfaction someone gets from consuming goods and services?
Which term refers to the satisfaction a consumer gets from a purchase?
What is the fundamental problem producers and consumers face Servicesscarcityresourcesinadequacy?
What are some reasons for studying economics?
- Excellent graduate prospects.
- Good graduate premium/graduate salary advantage.
- Economics and the world.
- Combined courses.
- Variety of modules.
- Internationally diverse cohort.
- Real-life application.
- Independence.
Which of the following fundamental economic questions addresses allocation of resources?
How can understanding economics make you a better citizen?
Which factor should be most important if you are considering purchasing?
What are some reasons for studying economics quizlet?
Terms in this set (10)
- economics has an impact on everyday life.
- economics can help people learn to manage resources.
- economics explains the roles of producers and consumers.
Which factor should be most important if you are considering purchasing a new video game the number of games available for purchase?
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