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Questions and Answers
Which of the following best describes an economy?
Which of the following best describes an economy?
- A system of producing and consuming goods and services (correct)
- A social domain of interrelated human practices
- A set of processes involving natural resources
- A social domain that emphasizes cultural practices
What are the main factors that contribute to an economy?
What are the main factors that contribute to an economy?
- Culture, values, and education
- Technological evolution and history
- Social organization and political structure
- All of the above (correct)
Who are the economic agents in an economy?
Who are the economic agents in an economy?
- Individuals and businesses
- Organizations and governments
- All of the above (correct)
- None of the above
What is the relationship between the economic domain and other social domains?
What is the relationship between the economic domain and other social domains?
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When do economic transactions occur?
When do economic transactions occur?
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