Describe the role that workers play in the game of economics. Explain why the worker’s role is unique.

Unit Test Part 2: The Players

Answer the following questions based on what you have learned.

(2 points)

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1. Describe the role that workers play in the game of economics.

(3 points)

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2. Explain why the worker’s role is unique.

 

(2 points)

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3. Explain why it is important for producers to conduct market research.

 

(3 points)

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4. Give at least one example of a type of market research that producers conduct. Explain the kind of information this research provides.

 

(3 points)

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5. Describe the meaning of utility in economics and explain why it is different from one consumer to another.

 

(2 points)

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6. Why do economists try to measure and understand utility?

 

(2 points)

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7. List two characteristics of an oligopolistic industry.

 

(3 points)

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8. Why are so many familiar industries oligopolies?

 

 

(5 points)

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9. Explain why circulation and ratings systems determine how much money different advertisements cost to run.

 

 

Your Score

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