The Text Suggests That One Key Demographic Statistic Is the Percentage

question 69

Multiple Choice

The text suggests that one key demographic statistic is the percentage of people in a region that are under 15 years of age.Why is this statistic important?

• A) Young people buy lots of goods and services.
• B) Young people will be the leaders of the future.
• C) Young people will feel the effects of global warming.
• D) Young people are reckless and impulsive.
• E) Young people are poised to move into their prime reproductive years.

Identify the economic reasons behind scarcity and the economic problem.

Explain the role of economic resources and their classification.

Understand the concept and significance of the production possibilities frontier (PPF).

Define economic growth and identify factors contributing to it.

---

Definitions:

Supply Curve

A graph showing the relationship between the price of a good and the quantity of the good that producers are willing to supply.

Lobster Farms

Aquaculture facilities dedicated to the breeding, raising, and harvesting of lobsters for commercial use and consumption.

Algae

A diverse group of photosynthetic organisms that are not necessarily closely related, and that live in a variety of water environments.

Transactions Costs

Expenses incurred when buying or selling goods or services, including but not limited to fees, charges, and other related costs.