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What do you call a person who uses resources to make goods and provide services?
A producer.
What are the three economic systems?
1. What goods and services should be produced? (goverment,producer, consumer) 2. How should these goods and services be produced? (goverment, producer, consumer) 3. For whom should the goods and services be produced?(goverment, producer, consumer)
What is the difference between consumer and producer in economics?
The producer supplies good and services and the consumer demands them.
What is the amount of a goods or services that an producer is offers for sale?
supply
What is the role of a primary producer?
primary producer is the individual or buiness that takes raw materials and converts it into a usable good for consumer use.
Who is a person company or business that makes the goods or provides services for consumers?
producer
What is the difference between consumer services and producer services?
Consumer Buying Behavior * Buying behavior of individuals and households that buy products for personal consumption
Which of these terms applies to individuals who make and offer economic good or services for sale?
producer
Match the role with the actions taken by players in that role.?
consumer- Purchasing goods and services producers-Providing goods and services worker-Making goods and services
When might it be desirable for a government to act as producer of goods and services with regards to economics?
Discussion of areas of market failure. This will be expressed in general terms - syllabus mentions the government as a producer of goods and services but does not deal with public and merit goods.
What does a producer depend on a consumer for?
Producers make goods/services and depend on the consumer to buy them so they can make money and continue making more goods/services.
What are private costs?
Private costs are the expenses of a supplier or producer. They are the costs incurred in provision of services or products.
