main economic groups Flashcards
1
Q
what are the main economic groups?
A
Consumers, Producers & Government
2
Q
What are consumers?
A
people who buy goods and services
3
Q
What are producers?
A
people who make/produce goods & services
4
Q
What is the government?
A
A political party that has power to make and enforce rules on how the country is run, affecting consumers and producers
5
Q
What is interdependence?
A
a term used to describe how each of these economic groups respond and react to each other
