john has a large apple orchard. he has decided to bake pies and sell them at the local farmers market. which…

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?\no john is using available and renewable resources.\no john is relying on inexpensive labor costs to improve profits.\no john is using resources to produce both goods and services.\no john is assuming consumers will have limited need for his product.

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?\no john is using available and renewable resources.\no john is relying on inexpensive labor costs to improve profits.\no john is using resources to produce both goods and services.\no john is assuming consumers will have limited need for his product.

Answer

Brief Explanations:

Economics is about the use of resources to produce goods and services. John uses apples from his orchard (a resource) to bake pies (produce a good) and sell them (a service - providing a product to consumers). The first option only focuses on resources, the second on labor costs which isn't mentioned, and the fourth is about consumer need assumption which isn't the main economic concept here.

Answer:

John is using resources to produce both goods and services.