An economy may be defined as:
A) the social organization by means of which people of a given society produce and distribute economic goods.
B) production of material goods.
C) the ratio of supply and demand in a society as measured by domestic input and cost.
D) labor, resources and capital multiplied by political considerations in any society.
Correct Answer:
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Q3: Adam Smith's concept of the invisible hand
Q4: Economic goods are the objects of our
Q5: Charles Fourier and Robert Owen were:
A) laissez-faire
Q10: What institution controls an unplanned economic system?
A)
Q12: Research has found that after society has
Q13: Allowing the market to operate with a
Q14: Which of the following is an example
Q16: Desires for things that can be obtained
Q20: Which of the following is NOT a
Q21: In a market economy, the chief incentive
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