BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An organized way in which a state or nation distributes its resources is
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A tax
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An economic system
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Business ethics
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Explanation:
Detailed explanation-1: -Factors of production are resources that are the building blocks of the economy; they are what people use to produce goods and services. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.
Detailed explanation-2: -Capitalism is the economic system in the United States. It is a market economy. Capitalism means that people, not the government, own most businesses.
Detailed explanation-3: -There are three main types of economic systems: command, market, and mixed. We will briefly describe each of these three types.
There is 1 question to complete.