Which Type of Economy Consumes Most of Its Output and Barters

question 90

Multiple Choice

Which type of economy consumes most of its output and barters the rest for simple goods and services?

• A) industrial economy
• B) developed economy
• C) subsistence economy
• D) emerging economy
• E) raw material exporting economy

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Definitions:

Classified Balance Sheet

A balance sheet that organizes assets and liabilities into current and long-term categories, helping provide a clearer understanding of a company’s financial position.

Balance Sheet

A financial statement that provides a snapshot of a company's financial position, showing assets, liabilities, and shareholders' equity at a specific point in time.

Net Income

The total profit of a company after all expenses, including taxes and operational costs, have been subtracted from its total revenue.

Cost of Goods Sold

Direct spending associated with producing the merchandise a company trades, including both materials and manpower costs.