Economy Basics Quiz

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What are the main factors that give context and set the conditions for an economy to function?

Monetary transactions, labor, and capital

Innovation, expanding markets, diversification of markets, niche markets

Culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources (correct)

Production, distribution, trade, and consumption of goods and services

What spurs economic activity by using natural resources, labor and capital?

Monetary transactions

Innovation

Distribution

Production (correct)

Who can be considered as economic agents?

Individuals, businesses, organizations, or governments (correct)

Educational institutions only

Monetary institutions only

International organizations only

What are the common expressions for the value or price of transacted goods or services?

<p>Certain currency</p> Signup and view all the answers

What has changed over time due to technology and innovation in the economic domain?

<p>New products, services, processes, expanding markets, diversification of markets</p> Signup and view all the answers

Economy Basics Quiz

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Questions and Answers

What are the main factors that give context and set the conditions for an economy to function?

What spurs economic activity by using natural resources, labor and capital?

Who can be considered as economic agents?

What are the common expressions for the value or price of transacted goods or services?

What has changed over time due to technology and innovation in the economic domain?

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