The Five Economic Attributes That Are Normally Studied Are Demand,supply,manufacturing,____________________,and

question 55

Short Answer

The five economic attributes that are normally studied are demand,supply,manufacturing,____________________,and investing and financing.

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Definitions:

Pure Competition

Pure competition is a market structure characterized by many sellers and buyers, homogenous products, and free entry and exit from the market, leading to price determination by supply and demand forces.

Socialism

Economic system characterized by government ownership and operation of major industries, such as communications.

Economic Recession

An economic recession is a significant decline in economic activity across the economy, lasting more than a few months, typically visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.

Regulated Monopolies

Market situations in which local, state, or federal government grants exclusive rights in a certain market to a single firm.