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Question
john has a large apple orchard. he has decided to bake pies and sell them at the local farmers market. which best describes johns use of economics?
john is using available and renewable resources.
john is relying on inexpensive labor costs to improve profits.
john is using resources to produce both goods and services.
john is assuming consumers will have limited need for his product.
John uses apples from his orchard (a resource) to bake pies (produce a good) and sell them (a service - providing pies to consumers at the market). This shows using resources to produce both goods and services.
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John is using resources to produce both goods and services.