Producers and Consumers

The government affects how much consumers pay for a product.

• True
• False

Regulations are _________.

• costs
• regular laws
• rules
• pollution

Regulations...

• protect consumers
• can make sure food and drinks are safe
• keep businesses from polluting the environment too much
• all of the above

It will NEVER cost a business money to follow government regulations.

• True
• False

What is another way government impacts consumer costs?

• with taxes
• with rules only
• with food and drink checks
• with the president

Which word means: there is not enough of a product or service for everyone

• production
• save
• consumption
• scarcity

When resources are scarce, businesses have to make decisions on how best use the resources they have.

• True
• False

A scarce product or service can cost ______ to buy.

• more
• less

If wheat becomes scarce, can flour become scarce too?

• yes
• no

A bakeries' product amount might suffer if wheat becomes scare.

• yes
• no