Answer the following questions based on what you have learned.
- Describe the role that workers play in the game of economics.
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- Explain why the worker’s role is unique.
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- Explain why it is important for producers to conduct market research.
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- Give at least one example of a type of market research that producers conduct. Explain the kind of information this research provides.
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- Describe the meaning of utility in economics and explain why it is different from one consumer to another.
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- Why do economists try to measure and understand utility?
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- List two characteristics of an oligopolistic industry.
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- Why are so many familiar industries oligopolies?
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- Explain why circulation and ratings systems determine how much money different advertisements cost to run.
