Exploring Economic

What is the definition of economic actors?

• Economic actors are individuals or entities that engage in economic activities.

• Economic actors are only large corporations.

• Economic actors are people who do not participate in the economy.

• Economic actors are government entities that regulate markets.

Which of the following is NOT a type of economic actor?

• Government

• Corporation

• Charity

• Individual

Identify the main types of economic actors.

• Households, firms, and government

• Banks, investors, and consumers

• Multinational corporations, startups, and freelancers

• Non-profits, charities, and unions

What role do households play in the economy?

• Households are key consumers and providers of labor, driving demand and influencing economic activity.

• Households do not influence market trends or prices.

• Households primarily focus on saving money and avoiding spending.

• Households are only responsible for government policy decisions.

Which economic actor is responsible for producing goods?

• Distributors

• Consumers

• Producers

• Retailers

Give an example of a government function in the economy.

• Providing free healthcare services

• Regulation of financial markets

• Tax collection from citizens

• Issuing currency notes

What is the primary function of businesses in the economy?

• To minimize competition among businesses.

• To increase government regulations on trade.

• The primary function of businesses in the economy is to produce goods and services.

• To create monopolies in the market.

How do consumers influence the market?

• Consumers only influence the market through advertising.

• Consumers influence the market by reducing competition.

• Consumers influence the market by driving demand, shaping trends, and impacting pricing.

• Consumers have no effect on market prices.

What type of economic actor is a bank classified as?

• Financial intermediary

• Non-profit organization

• Retail investor

• Government agency

Name one example of a non-profit organization as an economic actor.

• United Nations

• World Wildlife Fund

• American Red Cross

• Greenpeace