Which of the Following Purchases Goods and Services for Personal

question 54

Multiple Choice

Which of the following purchases goods and services for personal or household use?

• A) entrepreneur
• B) manager
• C) labor
• D) consumer
• E) market middleman

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Definitions:

Economic Argument

a reasoned discourse or debate that involves the analysis of economic principles, policies, or outcomes.

Import Restrictions

Measures implemented by a country to control the quantity of goods coming into the country from abroad, which can include tariffs, quotas, and other barriers.

Foreigners

Individuals or entities from one country who are not natives or do not possess citizenship in the host country.

Infant-Industry Argument

The economic rationale that new or emerging industries should be protected from international competition until they become mature and competitive.