Question

Create an outline of your paragraph about your participation in the economy this week. describe how you were a consumer or producer, and any economic decisions that you made.

Answer 1

Answer

:A. Introduction: topic sentence describing participation in the economy through buying and selling

B. Examples: bought a book for my e-reader instead of music; sold coffee at work

C. Economic principles: consumer (buying), producer (selling), opportunity cost

D. Conclusion: summary of economic participation through acting as a consumer and producer

Explanation:

Answer 2

I contributed to the total supply of money in the economy because my demand for good and services were paid for using money and it made the supplier to have more resources with which he can manufacture or purchase more product so that consumers can purchase. In this my economic decision was using the money which I could have used for other purposes for the purchase of goods and services as I had to forgo something and also my account balance became reduced as a result of the decision i made