ECONOMIC ACTIVITIES- CHAPTER 2

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A. Multiple Choice
1.C
2.B
3.B
4.
5.C
6.D
7.B
8.A
9.A
10.D

B. Essays
1. Explain the definition of consumption,production, and distribution!
    - Comsumption is the direct usage of goods and service to fullfill one's needs.
    - Production is making goods or providing services.And Proction is closely related to the 
       value of goods.
    -Distribution has a broader meaning than merely delivering goods.
2. Explain the difference between consumption,production, and distribution!
     a. Consumption:  The direct usage of goods and service
     b. Production:  Making goods or providing service
     c. Distributio:   Broader goods and society
3. Explain the consumer behaviour with the indifference curve approach!
     - The indifference curve shows the combination points of (two) consumed goods that give the
        same satisfaction.
 4. Explain the economic actifity circular flow diagram!
5. Explain the role consumption of households and frims household!
6. Explain the role of government and society!
7. Explain the role of foreign customers and producers
8. Give detail explanation on every economic entities in a economy!
9. Explain the the flows formed by the interaction between consumption households and firms
     households!
10. Explain types of incomes received by consumption households!