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Questions and Answers
What does an economy encompass?
What does an economy encompass?
- Only distribution and consumption of goods and services
- Production, distribution, trade, and consumption of goods and services (correct)
- Production, distribution, trade, and consumption of goods only
- Only trade and consumption of goods and services
What are the main factors that involve a given economy?
What are the main factors that involve a given economy?
- Social organization, political structure, and legal systems only
- Culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources (correct)
- Natural resources, labor, and capital
- Culture, values, education, and technological evolution only
Who can be economic agents?
Who can be economic agents?
- Individuals, businesses, organizations, or governments (correct)
- Only businesses and organizations
- Only individuals
- Only governments
What spurs economic activity?
What spurs economic activity?
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What has changed economic activity over time?
What has changed economic activity over time?
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