he economic institution that transforms factors of production into consumer goods is: a. a firm. b. the government. c. lending institutions such as banks and credit unions. d. the stock market.
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The economic institution that transforms factors of production into consumer goods is:
a. a firm.
b. the government.
c. lending institutions such as banks and credit unions.
d. the stock market.
Step by step
Solved in 4 steps
- Find out the microeconomic factor that affects the specific business organization. a. Demand b. All c. Market size d. SupplyGive three examples of Science. a. Telephony b. Biology c. Computers d. Robotics e. Chemistry f. ZoologyChoose the one that is correct about capitalist economic system. a. Private ownership of factors of production b. Absence of technology c. Maximization of social welfare d. Unlimited government control
- There are different components that make up a society. It includes all the following, except: a. Population b. Social relations C. Social institutions d. CultureIn which type of culture do businesses and people make and spend money? economic culture business culture mixed culture geographic cultureA market economy is regulated by the interaction between which two things A.Goods and services B.Producers and consumers C Product based and service based Business D.Public and private sectors
- 1. It regulates the engagement between the producer and the consumer. A. Chamber of commerce B. Local community C. Government 2. Economic development is measured by looking at A.Wealth of the community B.Quality of life C.Type of businesses present 3.It is regarded as the engine of the economy. * A.Entrepreneurship B.MSME's C.Education 4.The future belongs to those who can think like a; A. Positive person B.Scientist C.Entrepreneur 5.Which of the following is an entrepreneurial mindset? * A.Vulnerable Mind B.Resilient Mind C.Rigid Mind 6. is more interested in being unique. A.Independent Mind B.Risk Managing Mind C.Designing Mind 7.It is determined to achieve stretch goals. * A.Resilient Mind B.Independent Mind C.Goal oriented and effectuating mind 8. It has the propensity to take calculated risks. * A. A positive mind B.Risk managing mind C. Calculated risk mind 9.It…In a market economy, economic activity is guided by Select one: a. the government O b. prices O c. corporations d. central plannersMicroeconomics is best described as the study of a. economy-wide phenomena. b. how households and firms make decisions and how they interact in specific markets c. the flows of dollars between households and firms. d. markets for land, labor, and capital.
- Economic systems differ according to which two main characteristics? Select one: A. the technology used in production and the quantity and quality of natural resources B. the political system in place and the degree of scarcity facing the economy C. who owns the factors of production and the methods used to coordinate economic activity D. how goods are produced and who gets themThe answer to, "What goods are to be produced?" deals with: who gets the goods. how tastes and preferences are determined. how resources are combined to produce goods and services. the kinds and quantities of goods and services produced.Choose the Letter of the Correct Answer 1. It refers to a basic economic question that asks what needs and wants to be produced?. A. How much to produce? B. What to produce? C. How to produce? D. For whom to produce? 2. It refers to the skills and talents to produce a product. A. How much to produce? B. What to produce? C. How to produce? D. For whom to produce? 3. It refers to the target market of a certain product. A. How much to produce? B. What to produce? C. How to produce? D. For whom to produce? 4. A basic economic question that relates about quality and quantity of the product. A. How much to produce? B. What to produce? C. How to produce? D. For whom to produce? 5. It is a kind of economic system that is paternal, kinship in nature. A. Traditional economic system B. Market economic system C. Command economic system D. Mixed economic system