Questions and Answers
What are the main factors that give context, content, and set the conditions and parameters in which an economy functions?
culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources
Who are the economic agents in an economy?
individuals, businesses, organizations, or governments
When do economic transactions occur?
when two groups or parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency
