Economy Overview Quiz
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Questions and Answers

What is the main focus of an economy?

  • Production, distribution, and trade of goods and services (correct)
  • Use and management of abundant resources
  • Social interactions and cultural practices
  • Technological evolution and history

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

  • Political structure and legal systems (correct)
  • Culture, values, and education
  • Technological evolution and natural resources
  • Social organization and monetary transactions

    • Who can be economic agents in an economy?

  • Labor, production, and capital
  • Technology, innovation, and history
  • Individuals, businesses, organizations, or governments (correct)
  • Social organization, political structure, and legal systems

    • What spurs economic activity?

    <p>Production utilizing natural resources, labor, and capital</p> Signup and view all the answers

    What has changed economic activity over time?

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

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