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Unformatted text preview: Of course, these broad classifications do overlap each other. Virtually everyone in our economy is a consumer of goods and services, and we shall learn that we are all resource owners as well. When we visit a grocery store and purchase items, we are considered consumers. When we sell our physical and mental abilities to employers, we are resource owners. When we produce a good or service and sell it for a particular price, we are considered producers. So it is possible for an individual to be all three! 2...
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- Fall '10