The Value of Final Goods and Services Equals

question 47

Multiple Choice

The value of final goods and services equals:

• A)total business profits.
• B)the sum of the value added by all firms.
• C)total business spending.
• D)the sum of revenues from all sales.

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Definitions:

Private Sector

Part of the economy that is run by individuals and companies for profit and is not directly controlled by the state.

Wage Survey Data

Information gathered about salary rates and compensation for various jobs, used to benchmark and set salaries.

Trade Associations

Organizations founded and funded by businesses that operate in a specific industry to protect and promote their common interests.