As a social institution, the economy

Question

Quizplus · Accepted Answer

The economy operates in a relatively predictable manner as it follows basic principles of supply and demand, and economic patterns can be analyzed and predicted to some extent. While there may be fluctuations and unexpected events, overall the economy is not perceived as operating in an entirely chaotic or unpredictable manner. Choices A and B are incorrect as the economy is not solely concerned with taxation or discouraging consumption.

As a Social Institution, the Economy