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Questions and Answers
Which factors give context, content, and set the conditions for an economy to function?
Which factors give context, content, and set the conditions for an economy to function?
- Population size, geographical location, language spoken
- Culture, values, education, technological evolution (correct)
- Weather, transportation system, local customs
- Cuisine, fashion trends, entertainment industry
What does an economy emphasize?
What does an economy emphasize?
- Creation and destruction of goods and services
- Utilization of goods and services
- Selling and buying of goods and services
- Production, distribution, and trade of goods and services (correct)
Who can be the economic agents in an economy?
Who can be the economic agents in an economy?
- Media companies, advertising agencies, entertainment industry, or fashion designers
- Individuals, businesses, organizations, or governments (correct)
- Charities, non-profit organizations, sports clubs, or art galleries
- Schools, hospitals, households, or religious institutions
What spurs economic activity?
What spurs economic activity?
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What has changed over time to impact economic activity?
What has changed over time to impact economic activity?
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