Economics - From Booklet

Question 1

Consumers

Answer 1

Are those who purchase goods and services for personal use

Question 2

Producers

Answer 2

Are those who make and sell goods and services.

Question 3

Financial Sector

Answer 3

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

Question 4

Circular Flow of Income Model (draw)

Answer 4

Go to book or sketches

Question 5

Households Role

Answer 5

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