Which of the Following Is True of a Service-Based Economy

question 76

Multiple Choice

Which of the following is true of a service-based economy?

• A)A service-based economy tends to the consumers' demand for clothes cleaning, floor covering, illumination, entertainment, and so forth.
• B)A service-based economy interprets consumer demand as a demand for washing machines, carpets, lights, consumer electronics, and so forth.
• C)A service-based economy weakens the production efficiencies.
• D)A service-based economy increases material and energy costs significantly.

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Definitions:

Gambling

The act of wagering money or valuables on the outcome of a game or event with an uncertain result, with the primary intent of winning additional money or goods.

Real Defense

A legal defense that is valid against all the world, including bona fide purchasers or holders in due course.

Good Faith

The honest intention to act without taking an unfair advantage over another party, often mentioned in contracts and negotiations.

Good Faith

The principle of honesty and fairness in dealings, implying a sincere intention without deception.