Economic goods and services produced by business firms are

Question

Quizplus · Accepted Answer

Economic goods and services produced by business firms are considered outputs, as they are the end result of the production process and are typically sold or distributed to consumers. Resources refer to the factors of production used in the production process, while innovations, productivity, and technological progress are all elements that contribute to the overall efficiency and effectiveness of the production process, but do not directly refer to the goods and services produced.

Economic Goods and Services Produced by Business Firms Are