1.1.2 - Consumption, Production and Distribution
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Practice Questions
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What is consumption?
💡 Hint: Think about everyday activities.
Name one type of producer.
💡 Hint: Consider who makes or provides something.
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Interactive Quizzes
Quick quizzes to reinforce your learning
What does consumption refer to in economics?
💡 Hint: Think about what you do when you go shopping.
True or False: Scarcity means having more resources than we need.
💡 Hint: Consider the definition of scarcity.
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Challenge Problems
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Consider a local farmer who can produce wheat or corn. What factors should the farmer consider if the price of wheat rises significantly? Discuss the implications for consumption and distribution.
💡 Hint: Think about market demand and resource limitations.
Analyze the impact of a sudden increase in consumer demand for electric cars on production and environment. What role does scarcity play in this scenario?
💡 Hint: Consider both economic and environmental perspectives.
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