Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Name_____________________________ ECONOMICS 101 ANSWER THE FOLLOWING QUESTIONS TO THE BEST OF YOUR ABILITY: Define ECONOMICS- What is the economic difference between wants and needs and give an example of each? WantsExample: -also called a _____________ item NeedsExample: -also called a ______________ item List 3 products that you want and why do you want that particular product? 1. 2. 3. List 3 products that you need ? 1. 2. 3. ___________________ wants and needs and ______________ resources make up the basic premise of economics:_____________ WHY IS IT IMPORTANT TO UNDERSTAND ECONOMICS? ANSWER THE FOLLOWING QUESTIONS TO THE BEST OF YOUR ABILITY: Economic Industries: What is the difference between consumers and producers? ConsumersWho are the consumers? ProducersWho are the producers? Producers- 2 types 1)Products- Tangible Goods (example- MP3 player) 2)Services- Intangible- Specific functions that are provided (example- Chase Bank) ANSWER THE FOLLOWING QUESTIONS TO THE BEST OF YOUR ABILITY: 2/3 of the US economic industry is in ______________________ List a product that you often use and who makes that product: What makes this product better than the competition- List a service that you often use and who provides that service: What makes this service better than the competition-