Choose the Word or Phrase in [ ] Which Will

question 122

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-The net total value of all the items an individual owns is known as [wealth | assets].

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Definitions:

Income Distribution

Describes how a nation’s total GDP is distributed amongst its population, often highlighting the disparities between different income groups.

Market Economy

An economic system where supply and demand within a free market determine the production of goods and services, with minimal governmental intervention.

Productivity

Productivity is a measure of efficiency, typically quantified as the ratio of output produced to the inputs used in the production process.

Economic Pie

A metaphorical representation of the total wealth or economic output available in a society or economy.