In the Production System Model, _____ Represent the Desired Goods

question 23

Multiple Choice

In the production system model, _____ represent the desired goods and services.

• A) inputs
• B) outputs
• C) raw materials
• D) components
• E) factors of production

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Definitions:

Government Purchases

Expenditures made by local, state, or federal government sectors on goods and services that directly absorb resources.

Net Exports

The difference between a country's total exports of goods and services and its total imports of goods and services; net exports can be a positive or negative value.

Gross Investment

A company’s total investment in plant, equipment, and inventory. Also, a nation’s plant, equipment, inventory, and residential housing investment.

Depreciation

The process of allocating the cost of a tangible asset over its useful life.