drag the tiles to the correct boxes to complete the pairs. match each scenario with the economic concept at…

drag the tiles to the correct boxes to complete the pairs. match each scenario with the economic concept at play. consumer sovereignty property rights interest jamie borrowed $10,000 from the bank. eventually, the loan payments will total $11,156. super soba noodles was doing fine until the arrival of a new brand of noodles, magic soba. people stopped buying super soba, opting for magic soba instead. gradually, super soba had to reduce production as demand decreased. michael owns a two - story house with a large lawn. he decides to use his house and lawn to run a fitness boot camp.

drag the tiles to the correct boxes to complete the pairs. match each scenario with the economic concept at play. consumer sovereignty property rights interest jamie borrowed $10,000 from the bank. eventually, the loan payments will total $11,156. super soba noodles was doing fine until the arrival of a new brand of noodles, magic soba. people stopped buying super soba, opting for magic soba instead. gradually, super soba had to reduce production as demand decreased. michael owns a two - story house with a large lawn. he decides to use his house and lawn to run a fitness boot camp.

Answer

Brief Explanations:

  1. When Jamie borrowed $10,000 and will pay back $11,156, the extra amount ($11,156 - $10,000 = $1,156) is the interest charged by the bank for lending the money.
  2. People stopped buying Super Soba in favor of Magic Soba, and Super Soba had to reduce production due to decreased demand. This shows that consumers have the power to decide which products succeed or fail in the market, which is consumer - sovereignty.
  3. Michael owns a house and lawn and decides to use them for a fitness boot camp. His ability to use his property as he wishes is an example of property rights.

Answer:

Jamie borrowed $10,000 from the bank. Eventually, the loan payments will total $11,156. -> Interest Super Soba noodles was doing fine until the arrival of a new brand of noodles, Magic Soba. People stopped buying Super Soba, opting for Magic Soba instead. Gradually, Super Soba had to reduce production as demand decreased. -> Consumer sovereignty Michael owns a two - story house with a large lawn. He decides to use his house and lawn to run a fitness boot camp. -> Property rights