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Economics Quiz
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Economics Quiz

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@ImmaculateBlueLaceAgate6101

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Questions and Answers

What is an economy?

  • A system of production, distribution, trade, and consumption of goods and services (correct)
  • A system of production and consumption of goods only
  • A system of trade and management of scarce resources
  • A system of social organization and political structure
  • What factors are involved in a given economy?

  • Monetary transactions, technological evolution, and history
  • Social organization, political structure, and industrial relations
  • Culture, values, education, technological evolution, and natural resources (correct)
  • Legal systems, monetary transactions, and labor
  • What spurs economic activity?

  • Legal systems and social organization
  • Monetary transactions and technological evolution
  • Trade and consumption of goods and services
  • Production using natural resources, labor, and capital (correct)
  • Who can be economic agents?

    <p>Individuals, businesses, organizations, or governments</p> Signup and view all the answers

    What changes have influenced economic activity over time?

    <p>Technology, innovation, and changes in industrial relations</p> Signup and view all the answers

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