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What groups of players make all of the economic decision in a free-market system?
consumers and producers
What is the relationship between producers and consumers in economics?
Producers make the goods and consumers buy and use the goods.
Why Is sun Important to producers and consumers?
because if the producers don't get sunlight they wont grow thus the consumers will have nothing to eat
In the game of economics workers play a double role functioning as both consumers and?
In the game of Economics, workers play a double role, functioning as both consumers and producersConsumers and producers
What best explains why the free-market system follows a circular flow model?
consumers and producers influence each other in a circular fashion
Are taxes levied on consumer or producer of goods?
Both consumers and producers are taxed in one form or another.
What are characteristics of indirect taxes?
Indirect taxes are levied on goods and services rather than on income or profits. They are typically included in the price of the product, making them less visible to consumers. These taxes can be passed on from producers to consumers, affecting the overall cost of goods. Common examples include value-added tax (VAT), sales tax, and excise duties.
What is the incidence of indirect taxes?
Incidence of indirect taxes indicate how much burden of indirect taxes will be borne by the producers and how much by the consumers by way of rise in price.
What type of taxes Levied directly on the entire estate of a person?
Estate taxes are levied on the entire estate of a person.
Are plants consumers or producers?
animals are consumers and plants are producers.
Are carnivores consumers or producers?
they are both consumers and producers
What groups of players make all of the economic decision in a free-market system?
consumers and producers
Taxes levied on goods made or sold within a country are called what?
taxes levied on goods made or sold within a country are called excise taxes.
Are buttercups producers or consumers?
Primary consumers
How are consumers related to producers?
Producers are the food for primary consumers.
Differentiate producers from consumers?
You can differentiate between producers and consumers by understanding that producers make their own food. Consumers cannot do that.
Is the tax burden of sin taxes on tobacco products shared equally between consumers and -producers?
no,buyers pay more
