5 Questions
What does an economy emphasize?
Production, distribution, trade, and consumption of goods and services
What are the main factors involved in a given economy?
Culture, values, education, technological evolution, history
What spurs economic activity?
Production using natural resources, labor and capital
Who can be economic agents?
Individuals, businesses, organizations, or governments
What has changed economic activity over time?
Technology, innovation (new products, services, processes), expanding markets
Test your knowledge of the fundamental concepts and components of an economy with this quiz. Explore the production, distribution, trade, and consumption of goods and services, as well as the cultural, social, and political factors that shape an economy.
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