Wars,new inventions,harvest failures,and changes in government policy are examples of
A)the business cycle.
B)economic models.
C)shocks.
D)opportunity costs.

Question

Quizplus · Accepted Answer

Shocks refer to unexpected and unpredictable events that affect the economy. Wars, new inventions, harvest failures, and changes in government policy are all examples of shocks because they can cause sudden and significant changes in various economic factors such as production, prices, and employment. The business cycle refers to the natural fluctuation of the economy between periods of expansion and contraction, economic models are theoretical frameworks used to study the economy, and opportunity costs refer to the cost of foregoing one option in favor of another.

Wars,new Inventions,harvest Failures,and Changes in Government Policy Are Examples of