Match each scenario with the economic concept at play.
1. Jamie borrowed $10,000 from the bank. Eventually, the loan payments will total $11,156.
2. Super Soba noodles was doing fine until the arrival of a new brand of noodles, Magic Soba. People stopped buying Super Soba, opting for Magic Soba instead. Gradually, Super Soba had to reduce production as demand decreased.
3. Michael owns a two-story house with a large lawn. He decides to use his house and lawn to run a fitness boot camp
- consumer sovereignty
- property rights
- interest
