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Economics Quiz
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Economics Quiz

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@TollFreeHope4101

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Questions and Answers

What does an economy emphasize?

  • Production, distribution, trade, and consumption of goods and services (correct)
  • Distribution of goods only
  • Consumption of services only
  • Production of goods only
  • What factors are involved in a given economy?

  • Social organization and political structure only
  • Natural resources and technological evolution only
  • Culture, values, and education only
  • Culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources (correct)
  • Who can be economic agents?

  • Individuals and organizations only
  • Individuals, businesses, organizations, or governments (correct)
  • Organizations and governments only
  • Businesses and governments only
  • When do economic transactions occur?

    <p>When two groups or parties agree to the value or price of the transacted good or service</p> Signup and view all the answers

    What is the economic domain?

    <p>A social domain of interrelated human practices and transactions</p> Signup and view all the answers

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