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Questions and Answers
Which term refers to material commodities that satisfy human needs and wants, provide utility, and are generated by economic activity?
Which term refers to material commodities that satisfy human needs and wants, provide utility, and are generated by economic activity?
- Goods (correct)
- Needs
- Services
- Natural resources
What are intangible commodities created directly or indirectly to satisfy human needs and wants called?
What are intangible commodities created directly or indirectly to satisfy human needs and wants called?
- Goods
- Natural resources
- Services (correct)
- Needs
Which term refers to something that is necessary and required?
Which term refers to something that is necessary and required?
- Goods
- Services
- Needs (correct)
- Natural resources
What are resources provided by nature, from the environment, called?
What are resources provided by nature, from the environment, called?
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Who are the subjects responsible for undertaking economic activity and organizing the production and distribution of goods and services?
Who are the subjects responsible for undertaking economic activity and organizing the production and distribution of goods and services?
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