Podcast
Questions and Answers
How can consumers influence product prices?
How can consumers influence product prices?
- By boycotting expensive products (correct)
- By demanding more expensive products
- By buying expensive products in bulk
- By ignoring the price of products
What happens if significant numbers of consumers refuse to purchase goods considered dangerous to health?
What happens if significant numbers of consumers refuse to purchase goods considered dangerous to health?
- The demand for these goods will increase
- Entrepreneurs will produce more of these goods
- The goods will become more expensive
- The demand for these goods will decrease to the point where it is unprofitable for entrepreneurs to produce such products (correct)
Who determines what goods are to be produced according to the text?
Who determines what goods are to be produced according to the text?
- Entrepreneurs
- Consumers (correct)
- Suppliers
- The government
Which of the following actions can consumers take to force suppliers to reduce prices?
Which of the following actions can consumers take to force suppliers to reduce prices?
What would happen if significant numbers of consumers refuse to purchase goods considered dangerous to health?
What would happen if significant numbers of consumers refuse to purchase goods considered dangerous to health?
What can be said about the power of consumers in determining what goods are to be produced?
What can be said about the power of consumers in determining what goods are to be produced?
How can consumers influence the prices of products?
How can consumers influence the prices of products?
What can happen if significant numbers of consumers refuse to purchase goods considered dangerous to health?
What can happen if significant numbers of consumers refuse to purchase goods considered dangerous to health?
Who determines what goods are to be produced?
Who determines what goods are to be produced?
Consumers have the power to influence product prices
Consumers have the power to influence product prices
If consumers refuse to purchase a product, suppliers may be forced to reduce its price
If consumers refuse to purchase a product, suppliers may be forced to reduce its price
Entrepreneurs will continue to produce goods even if there is no demand for them
Entrepreneurs will continue to produce goods even if there is no demand for them
