The process by which resources are transformed into goods and services is called production.
Correct Answer:
Verified
Q87: Purchasing goods and services is termed production
Q88: A price taker in economics refers to
Q89: The total amount of output in the
Q90: In a mixed economy the allocation of
Q91: Over the past two decades many economies
Q93: The choice between studying an economics degree
Q94: The opportunity cost of something is the
Q95: An economic model is a simplified depiction
Q96: In all economies, potential demand exceeds potential
Q97: What are economic systems?
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents