which of these statements accurately describe economics? check all that apply.\n□ economics is the study of…

which of these statements accurately describe economics? check all that apply.\n□ economics is the study of how goods and services are made and sold.\n□ the principle of scarcity is a driving force of economic decisions.\n□ services are things like groceries, cars, and office buildings.\n□ government regulations rarely influence economic decisions.\n□ producers and consumers interact to influence the economy.

which of these statements accurately describe economics? check all that apply.\n□ economics is the study of how goods and services are made and sold.\n□ the principle of scarcity is a driving force of economic decisions.\n□ services are things like groceries, cars, and office buildings.\n□ government regulations rarely influence economic decisions.\n□ producers and consumers interact to influence the economy.

Answer

Brief Explanations:

  • Economics studies production, distribution, and consumption of goods and services, so the first statement is correct.
  • Scarcity (limited resources) drives economic decisions like what to produce, how to produce, etc., so the second statement is correct.
  • Groceries, cars, and office - buildings are goods, not services, so the third statement is incorrect.
  • Government regulations (taxes, subsidies, etc.) often have a major impact on economic decisions, so the fourth statement is incorrect.
  • Producers supply and consumers demand, and their interaction affects prices, quantities, etc. in the economy, so the fifth statement is correct.

Answer:

  • Economics is the study of how goods and services are made and sold.
  • The principle of scarcity is a driving force of economic decisions.
  • Producers and consumers interact to influence the economy.