Producers & Consumers - "The Players" 2.01-2.03

Multiple Choice

Why is it important to understand the roles of producers and consumers in an economy?

• It helps us make better choices as buyers and sellers.

• It allows us to avoid paying taxes.

• It teaches us how to become rich quickly.

• It helps us ignore the effects of supply and demand.

Open Ended

Explain how producers and consumers interact in a market economy and the impact of their decisions on each other.

Fill in the Blank

In economics, the people who buy goods and services are called ___.

Multiple Choice

Who is considered a consumer in the context of economics?

• Someone who provides goods and services

• Someone who uses goods and/or services

• Someone who manages a business

• Someone who only produces goods

Multiple Choice

Which group of players uses the goods and services produced in the game of economics?

• Workers

• Economists

• Producers

• Consumers

Multiple Select

Which of the following are important roles that consumers play in the economy?

• Deciding what products and services to use and buy

• Deciding how much to buy

• Setting the price for all goods

• Deciding what to produce

Fill in the Blank

Consumers let producers know what they want and the price they are willing to ___.

Open Ended

Why is it important for producers to pay attention to consumers when making important decisions?

Multiple Choice

Which of the following activities best represents a person acting as both a consumer and a producer?

• A pharmacist orders medicine while helping a customer.

• A policeman buys a cup of coffee.

• Alex goes to the movies with his babysitting money.

• A reporter interviews a marathon runner.

Multiple Choice

In economics, businesses do all EXCEPT which of the following?

• Guide the economy

• Purchase resources

• Organize production

• Hire workers

Multiple Select

Which of the following are roles of businesses in the economy?

• Provide goods and services to consumers

• Hire labor and buy resources

• Guide the overall pace of the economy

• Create jobs when new businesses open

Open Ended

How does the government act as both a provider of public goods and a consumer in the economy?

Fill in the Blank

The government helps maintain prices ______ in the economy.

Multiple Choice

Which of the following is an example of the government acting as a producer?

• The government buys materials to build a bridge

• The government opens a new college

• The government uses electricity to run its offices

• Congressmen shop for planes to transport them to Washington, D.C.

Multiple Select

Based on the answers provided, which activities are examples of the government acting as a consumer? Select all that apply.

• The government uses electricity to run its offices

• The government buys materials to build a bridge

• The government opens a new college

• Congressmen shop for planes to transport them to Washington, D.C.

Fill in the Blank

Producers use ___ to anticipate consumer behavior and make decisions about products.

Multiple Choice

Which of the following factors can influence a producer's decision-making process?

• Market research

• Peer pressure

• Culture

• All of the above