Question

Most people recognize that, as a group, consumers are the pivotal participants in the economy, The _____________decisions made by consumers determine which goods and services will be produced by businesses, just as their investment and saving decisions will strongly influence conditions in the_______ markets.
Another indication of the importance of consumers is the effect their collective spending has on the economic activity level observed in the economy. ___________in the level of consumer spending is usually credited with causing __________and all benefits or costs that go with it.

Options:
a. selling OR purchasing
b. goods and services OR financial
c. an increase OR stagnation
d. economic decline OR economic growth
e. goods and services OR monetary payments
f. goods and services OR monetary payments
g. inputs OR outputs
h. goods and services OR money
i. sellers OR buyers
j. sellers OR buyers

Answer 1

Answer:

1. purchasing

2. Financial.

3. An increase.

4. Economic growth.

Explanation:

Economics can be classified into two (2) categories, namely;

1. Macroeconomics can be defined as the study of behaviors, performance and factors that affect the entire economy. Hence, it focuses on aggregate phenomena such as price level, economic growth, Gross Domestic Product (GDP), inflation, unemployment and national income levels with respect to the central bank, demand or supply shocks, government policies, aggregate spending and savings.

2. Microeconomics can be defined as the study of the effect of price and quantity levels through interactions between individual buyers and sellers in various markets. It focuses on analyzing or evaluating the decisions of consumers (buyers) and those of firms (sellers) such as methods of production, pricing; and the manner in which government policies affect those decisions.

Most people recognize that, as a group, consumers are the pivotal participants in the economy, The purchasing decisions made by consumers determine which goods and services will be produced by businesses, just as their investment and saving decisions will strongly influence conditions in the financial markets.

Another indication of the importance of consumers is the effect their collective spending has on the economic activity level observed in the economy. An increase in the level of consumer spending is usually credited with causing economic growth and all benefits or costs that go with it.