Ch. 3: Economic Roles (BT21)

The three roles that everyone must perform are worker, consumer, and saver.

• True

• False

The consumer role, making decisions about what to buy, is performed only by individuals and businesses.

• True
• False

Which of the following is NOT one of the economic roles performed in our economy?

• worker
• citizen
• leader
• consumer

What is the effect of dollar votes by consumers?

• demand is affected

• businesses learn about consumer preferences

• Businesses are helped in making decisions

• All the answers are correct

This is when citizens decide how public goods will be provided for their common use

• collective decision making
• standard of living
• competition
• productivity

Goods that are very desirable and scarce have prices that tend to remain

• high
• low
• competitive
• productivity

One way to improve our standard of living is to increase our

• productivity
• supply
• demand
• prices

Which is NOT one of your economic roles?

• Consumer

• Worker

• Customer

• Citizen

The quantity of a product or service that consumers are willing and able to buy a price

• supply

• demand

• quota

• standard

Demand and supply interact to determine what price to charge for a good or service

• True

• False