GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Michelle is trying to decide which goods and services to purchase so that she can get maximum satisfaction. Michelle is
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creating scarcity.
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economizing.
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increasing distribution.
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a producer.
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Explanation:
Detailed explanation-1: -The 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: -Economics is the study of how people seek to satisfy their needs and wants by making choices.
There is 1 question to complete.