When Is Exchange Necessary in an Economy

question 40

Multiple Choice

When is exchange necessary in an economy?  

• A) if output is to be produced 
• B) if output is to be consumed 
• C) if individuals are self-sufficient 
• D) if labour is specialized

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Definitions:

Services

Intangible products delivered directly from a provider to an end user to fulfill a need or provide a solution without the transfer of physical goods.

Organizational Reach

The extent to which an organization can project its influence or services over geographic areas and operational domains.

Inventory ID Code

A unique identifier, often in the form of a barcode or RFID tag, used to track and manage individual items in an inventory.

Warehouse

A large building where goods are stored before they are distributed, sold, or used.