ASSIGNMENT

Analyze problem 8 in the "Problems to Ponder" section at the end of chapter 3. Be as specific as possible.

Problem 8.An economist said, "Since the consumer is sovereign, and consumption is the end purpose of all production, therefore the economy is consumer driven, and we must do all we can to stimulate consumption. Production will then follow."

Are there any flaws in this economist's logic?

Which should government promote first-consumption or production? Or neither?

Criteria: Prepare a 1-2 page paper. Your paper should also reflect scholarly writing and current APA standards. Please include citations to support your ideas.