consumption of goods and services. 2. Produces goods are those products and services that are directly consumed by consumers. 3. Demand is the quantity of certain commodity that is bought at a certain price at a given place and time.

consumption of goods and services. 2. Produces goods are those products and services that are directly consumed by consumers. 3. Demand is the quantity of certain commodity that is bought at a certain price at a given place and time.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter19: Using Economics To Understand The World Around You

Section: Chapter Questions

Problem 1E

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Question

true or false

1. Economics is a social science concerned with the production, distribution and
consumption of goods and services.
2. Produces goods are those products and services that are directly consumed by
consumers.
3. Demand is the quantity of certain commodity that is bought at a certain price at a given
place and time.

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