The economy is defined as

A. the income, expenditures, and resources that affect the cost of running a business and household.
B. the purchase of the highest quality product for the lowest possible price.
C. the production, distribution, and consumption of products, services, and ideas by households.
D. the independent financial factors that are not affected by changes in government spending.
E. the forces within a manufacturer's control that affect the demand and supply its offerings.


Answer: A

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The ____________________ of accounting is a system in which revenues are recognized when payments are received and expenses are recognized when payments are made

Fill in the blank(s) with correct word

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A manager makes a decision that is beneficial for a specific investment center and for the entire organization. From the organization's perspective, this decision results in:

A. goal congruence. B. fixed compensation. C. decentralization. D. contingent compensation.

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What can limit the effectiveness of international assignments as a development tool?

a) Experiencing new cultures b) Creation of ‘cultural bubble’ where expatriates don’t engage with locals c) Development of higher order mental structures d) Being able to deal with conflicting information

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Products and services that are difficult to imitate help firms sustain their profitability.

Answer the following statement true (T) or false (F)

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