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Questions and Answers
Why are industry and commerce regarded as unproductive?
Why are industry and commerce regarded as unproductive?
- Because they create surplus wealth that equals the wealth consumed
- Because they involve the transfer of already produced commodities without creating anything new (correct)
- Because they do not contribute to the development of economic analysis
- Because they modify raw materials without producing any net product
What concept was important for the development of economic analysis according to prof. Haney?
What concept was important for the development of economic analysis according to prof. Haney?
- Industry
- Net product (correct)
- Commerce
- Surplus wealth
Why did prof. Haney consider the idea of net product important for economic analysis?
Why did prof. Haney consider the idea of net product important for economic analysis?
- To understand the concept of surplus wealth (correct)
- To study the production and consumption of wealth in industry and commerce
- To emphasize the significance of raw materials in industry
- To develop theories about industry and commerce
What is the relationship between wealth produced and consumed in industry and commerce according to the text?
What is the relationship between wealth produced and consumed in industry and commerce according to the text?
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