HISTORY
ORIGINS OF CIVILIZATION PREHISTORY300 BC
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Services produce goods and store them for later use.
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Goods and services are produced and distributed.
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Hunters, gatherers, and farmers produce everything
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Enough goods are produced for a small number of people to survive.
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Detailed explanation-1: -An economic system encompasses many institutions, agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community.
Detailed explanation-2: -Government Controls Production in Command Economy The government decides the means of production and owns the industries that produce goods and services for the public.
Detailed explanation-3: -Answer and Explanation: Goods and services are distributed in a free market based on prices. A price is a request by a producer for a dollar amount in exchange for a good or service and it is met by consumers if they decide to buy from that supplier or to go with a competitor.
Detailed explanation-4: -Resources are combined to produce goods and services. Land and natural resources provide the needed raw materials. Labor transforms raw materials into goods and services. Capital (equipment, buildings, vehicles, cash, and so forth) are needed for the production process.