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Q1. What is opportunity cost.
Answer:

Q2. What do consumers have a limited amount of.
Answer:

Q3. What is the appropriate price to pay, what do businesses need to consider.
Answer:

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Use these themes to help you create your questions;

Profit/Revenue

Goods and Services

Economic Problem – relate to consumers and the government

Four types of resources – define/examples

Type of wants

Opportunity cost – relate to consumers and the government

Consumer is king

Consumers/Producers interdependent

Price and Demand

Factors affecting the price of goods and services -

The impact of competition

Supply and Demand

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1. What is a collective service?
ANSWER:A collective service is a service that is wanted by a collective of people.

2. Why does the cost of production change over time?
ANSWER: I t

3. How does the stock market change the prices of products?
ANSWER:

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1. What is the difference between profit and revenue?
ANSWER:

2. What happens if some consumers want one thing, but other consumers want something else?
ANSWER:

3. How often do producers change the price?
ANSWER:

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1. How does the government get to decide how much they should take for tax?

Answer:

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Q1- When determining the appropriate price to charge, buisnesses will consider?
ANSWER= Businesses need to take into account their revenue and how much desired profit they would like to make
-What consumers are

Q2- Whats one of the biggest challenges for buisness?

ANSWER=

Q3- What is the difference between revenue and profit?

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1) How important is it to have Enterprise in relation to CELL?
Can a firm run without someone managing enterprise?

2) How has online shopping affected producers?

3) How do celebrities and social media affect consumers' tastes and preferences

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1. What is a capital resource ? Buildings and cars, which are all man made things

2. Can someone please expulsions and a

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1. What is the opportunity cost?
ANSWER - the opportunity cost is simply thinking of the next best alterative for example ... Going out with friends or staying home and doing your homework.

2.How do you woke out the revenue?
ANSWER:you dont work out revenue, it means the amount of money you get from selling a product.

3. What is a collective service?

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1.what is the definition of enterprise?
Answer: The skill of combining the three other factors. (CELL

2.what is the definition of opportunity cost?
Answer:

3. What do consumers have a limited amount of
Answer:

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1. What does enterprise mean?
ANSWER:
Enterprise is managing the three other types of resources. For example, a principal or a boss.

2. What is opportunity cost

Answer: Opportunity cost is when you have to make a decision about something. Chips or apples. You have to desal with the consequences.

3.

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1.  What is opportunity cost?
ANSWER: Opportunity cost is when you chose between two things. For example go out with friends or do homework. You have to deal with the consequences.

2. What happens when the entrepenaur of a business doesn't care about the business
ANSWER:The business will die and make no money at all.

3.

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1. What is collective services?
ANSWER: A collective service is a service provided by the government that benefits the community as a whole.

2. What is gross profit?
ANSWER the profit before you have through the tax process

3. Does competition benefit producers

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1: how does opportunity cost affect how businesses run

2:what is the economic problem
ANSWER:the economic problem is that we have unlimited wants but limited reacorses

3:what is a solution to the economic problem

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1.What is Interest Rate?

2.What is Freelance

3. What is an Entrepreneur

Answer2: Self employed and hired to work for different companies

ANSWER 1: The amount of interest you get from the bank

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1. How does supply and demand affect the price of a good or service?

2. What is a collective service?
A collective service is a service
Provided by the general goverment
3. When determining the price a business decides to charge, what will they consider?

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Q1) how do firms keep up with the latest trends?
A1)
Q2) How do new firms get their products?
A2)
Q3) why is there more than just one currency
A3)

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1. What is a collective service?

2.If a producer is also a consumer then who is KING?!

3.

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❓1• How many factors are there that affect the cost of something?❓
Please give some examples! 😃
➰Answer➰some factors that affect the price of something is , demand from customers. Trends & Preferences>

❓2• What is a collective service?❓
(This has been on my mind ever since... Um... We started economics)
➰Answer➰

❓3• How exactly are consumers and producers interdependent? ( If you provide 2 examples, you get a star⭐️)❓

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1. What causes the change of a price to a good or service and why?

2. Why do people import products from overseas, when they can just make a cheaper product and customise it to meet their satisfaction ?

3. Why do we have to pay tax when we did all the work to make that money? If we didn't pay tax, then the government woudlnt bee able to make roads, so the consumers can't get to your business in the first place! And we wouldn't have Parks,

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Q1- What does revenue mean?
ANSWER: Revenue is how much money you make.
Q2- What is opportunity cost?
ANSWER: The real cost of the next best alternative sacrificed. Lots of examples
Q3- What is the difference between a Desire and a Demand?
ANSWER:
Can you please add examples🙏🏻

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What is opportunity cost

ANSWER: Opportunity cost is the thing you missed out on from choosing the other thing. Example: I have the choice of eating chips or chocolate if I eat the chips than I miss out on sweat. There for I have to make a choice.
From Elijah.

How do firms

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1. Define opportunity cost or provide an example to show your understanding?
Answer:

2. What are three types of resources ?
Answer:

3.  Why have McDonald's changed to a healthier menu?
Answer: