Alfred produces the parts for a very specialized piece of machinery and then sells them to a supplier. Which societal institution is Alfred engaged in with his activities?

Question

Quizplus · Accepted Answer

Alfred's activities involve producing and selling parts for machinery, which directly relates to the exchange of goods and services for money. This falls under the institution of the economy, which deals with the production, distribution, and consumption of goods and services.

Alfred Produces the Parts for a Very Specialized Piece of Machinery