3.3.1 - What to Produce?
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Practice Questions
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Define consumer goods.
💡 Hint: What items do you use daily that are not meant for making other products?
What is the difference between consumer goods and capital goods?
💡 Hint: Think about what you buy for yourself vs. what businesses use.
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Interactive Quizzes
Quick quizzes to reinforce your learning
What are consumer goods?
💡 Hint: Think of the things you buy at a store.
True or False: Luxury goods are necessary for survival.
💡 Hint: Consider whether you can live without them.
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Challenge Problems
Push your limits with advanced challenges
Consider two economies: one focusing on luxury goods and another on essentials. Discuss the long-term impacts of these choices on societal welfare.
💡 Hint: Think about the social ramifications of these focuses.
Analyze how historical events like the Great Depression influenced economic decisions on what to produce in the following decades.
💡 Hint: Reflect on how crises compel shifts in economic policies and production choices.
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