Use the Following to Answer Questions

question 187

Multiple Choice

Use the following to answer questions :
-(Table: Kenya's Economy in 2010) Look at the table Kenya's Economy in 2010. Aggregate output at the end of 2010, assuming no changes in the price level, was about:

• A)$326 billion.
• B)$32.632 billion.
• C)$3,635 billion.
• D)$6,500 billion.

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Definitions:

Goods And Services

Products and activities offered by businesses to satisfy consumer needs and wants.

Total Cost

The complete expenditure associated with acquiring, producing, or maintaining a product or service.

Good Or Service

Any commodity or activity that can be offered by one party to another, which is capable of satisfying a need or want.

Free-Market Economic System

An economic system where prices for goods and services are determined by the open market and consumers, with minimal governmental intervention.