The Study of How Society Chooses to Employ Resources to Produce

question 9

True/False

The study of how society chooses to employ resources to produce goods and services and to distribute them for consumption among various competing groups and individuals is known as demographics.

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Definitions:

Auto Parts Industry

Refers to the sector of the economy focused on the manufacturing, distribution, and retailing of vehicle parts and accessories.

Significantly Lesser Price

A sale or transaction price that is considerably lower than the usual or market value.

Franchisor

The owner of the trade name or trademark in a franchise.

Franchisee

An individual or company that is granted the right by a franchisor to conduct business under an established brand's trademark and business model.