Question

PROJECT: PARTICIPATING IN THE ECONOMY

Answer 1

Answer:

mom- is a producer because she teaches, which provides a service

shes also a consumer because she buys groceries

dad- producer/hes a laywer which provides a service, consumer/he pays the bills

sister- consumer/ she shops at the mall

Answer 2

Answer:

Mrs Sade (producer) she owns a retail business, where she buys from producers and sell to final consumers. She sometimes earns discount as incentive for buying large quantity of goods. She is also a consumer, she buys food items.

Mr Sade- (producer) he renders consultancy  services in the agricultural sector to farmers and agro-allied businesses, He earns incentive for his services through tax waiver from the government. He is also a consumer, he buys household items from nearby neighborhood market.

Sola: (consumer), buys household materials and school items, earns incentives via discount from shops he buys from.

Sade: (Producer) teaches in a primary school, the school pays into her pension account monthly. She is also consumer of finished goods which earns her incentives via discount for products she buys.