Which of the Following Is an Example of an Economic

question 1

Multiple Choice

Which of the following is an example of an economic community?

• A) NATO
• B) BRIC
• C) NAFTA
• D) GATT
• E) WTO

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Definitions:

Manufacturing And Operations

The processes related to the production and delivery of products and services, encompassing everything from raw material procurement to final product assembly and distribution.

Inventory Control

The supervision of supply, storage, and accessibility of items to ensure an adequate supply without excessive oversupply.

Capital Equipment

Long-term, significant items of property used in the production of goods or services, such as machinery and buildings.

Labor Force

The total number of people employed or seeking employment in a particular region or economy.