In Economics,the Things That People Would Consume If They Had

question 80

Multiple Choice

In economics,the things that people would consume if they had unlimited income,or if goods and services were available to them for free,are known as

• A)needs.
• B)wants.
• C)preferences.
• D)outputs.

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Definitions:

Transformations

Comprehensive changes that significantly alter the nature, function, or condition of an organization, system, or individual.

Primary Reasons

The fundamental or chief causes that lead to a particular outcome, event, or situation.

Outsource

The practice of hiring third parties to perform services or produce goods that were traditionally performed in-house or within the country.

Small Businesses

Enterprises typically characterized by small teams, limited revenue, and localized operations, playing a crucial role in economies worldwide.