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?

  • 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

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