In Economics, _________ Are Things That Can Be Used or Consumed

question 33

Multiple Choice

In economics, _________ are things that can be used or consumed, whereas _________ are intangible actions performed for a consumer.

• A) goods, services
• B) services, goods
• C) assets, services
• D) none of the above

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Definitions:

Societies

Groups of individuals involved in persistent social interaction, or a large social grouping sharing the same geographical or virtual territory, subject to the same political authority and dominant cultural expectations.

Leader

An individual who guides or influences a group towards achieving a common goal or vision.

Organizations

Structured groups of people with specific purposes or goals, working together to achieve them.

Utilitarianism

An ethical theory suggesting that the best action is the one that maximizes utility, usually defined as maximizing happiness and reducing suffering.