Economics - From Booklet Flashcards

1
Q

Consumers

A

Are those who purchase goods and services for personal use

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2
Q

Producers

A

Are those who make and sell goods and services.

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3
Q

Financial Sector

A

Has the role of holding savings, lending money to consumers and producers and pay taxes to gov

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4
Q

Circular Flow of Income Model (draw)

A

Go to book or sketches

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5
Q

Households Role

A

Households consume goods offered by firms, and offer firms factors so firms can produce products for households

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