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Econ

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History | Graded Assignment | Practice: Playing Your Part
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Graded Assignment
Practice: Playing Your Part
Answer the following questions based on what you have learned about the roles of consumers and producers.
(5 points)
1. Give two examples of someone being a consumer. Explain why the role of a consumer is
important in an economic system.
Explanation: Consumers play a very significant role in the economy as they provide market for the goods and
services produced by the producers.
Example of someone being a Consumer
1. A young man buying a pair of shoe
2. A student buying a book
(5 points)
2. Give two examples of someone being a producer. Explain why the role of a producer is
important in an economic system.
Examples of a person being a producer
1. A baker baking cakes
2. A carpenter making sofas
Explanation: A producer is a person that uses the available resources to make a product that can be sold to the
consumers.
(10 points)
3. Explain how the government can be both a consumer and a producer. Give two concrete
examples for each case.
Explanation: A government can be both a consumer and a producer. The government becomes
a consumer when it buys goods and services from the members of the public as well as from other countries. The
government becomes a produce when it produces goods and services for sale to the member of the public as well
as to other countries.
Examples
1. Government as a Consumer
a. When a government buys maize from the farmers for storage
b. When a government buys goas for slaughter
2. Government as a Producer
a. Government packaging maize flour for sale
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History | Graded Assignment | Practice: Playing Your Part Name: Date: Graded Assignment Practice: Playing Your Part Answer the following questions based on what you have learned about the roles of consumers and producers. (5 points) 1. Give two examples of someone being a consumer. Explain why the role of a consumer is important in an economic system. Score Explanation: Consumers play a very significant role in the economy as they provide market for the goods and services produced by the producers. Example of someone being a Consumer 1. A young man buying a pair of shoe 2. A student buyi ...
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