1. How is the role of the consumer important in an economic system? List two examples of how someone can be a consumer

2. Describe why the role of a producer is important in our economic system. List two
examples of how someone can be a producer.

3. When thinking about our government and the type of economic system we live with, how
can our government be both a consumer of goods and a producer of goods or services?
State two examples to support your statement Hint What does government do with tax
dollars?

. We discussed in class how we play the role of "consumers." Think of something that you
plan to buy or are interested in buying within the next week.
A List two criteria or reasons for why you are interested in buying this product(s).
B. List two reasons that the producer's decision(s) could influence your decision to buy this product(s).

5.Suppose you are producing a product for consumers to purchase. What would your product
be? Name and explain two factors you will consider when making and selling your product to
influence consumers.

Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u.s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.