AP economics-help needed???

Question

1) As a consumer what role do you play in the circular flow of economic activity?

2) What roles do factor and product markets play in the economy?

3) how does cost benefit analysis help make economic decisions?

4) IN the P.A.C.E.D decison making process, explain what the acronym means?

Answer 1

1) Consumer represents part to whom goods are sold by firms

2) Factor markets supply resources for firms which produce goods/services, but product market supply goods/services.

3) It is believed what it helps to distribute resources more efficiently.

Not sure about fourth.