To use up the final products of production is to_______________?
Correct answer: B. consume
- A. distribute
- B. consume
- C. allocate
- D. appropriate
Explanation
Using goods and services to satisfy wants is consumption. Distribution moves products to users, while allocation concerns assigning scarce resources among competing uses.
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About Microeconomics
Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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