Examlex
Which sentence is expressed correctly?
Economy
Economy encompasses the system by which goods and services are produced, distributed, and consumed within a society, influenced by governmental, cultural, and environmental factors.
Goods and Services
The tangible products (goods) and intangible items (services) that are produced and provided to meet the needs and wants of consumers.
Market Economy
An economic system in which supply and demand drive the production and distribution of goods and services, with minimal government intervention.
Specialization
Focus on a narrow area of expertise or production to increase efficiency and output.
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