Which of the Following Is Not One of the Five

question 232

Multiple Choice

Which of the following is not one of the five fundamental questions that an economy must deal with?

• A)How will the goods and services be produced?
• B)Why should the goods and services be produced?
• C)Who is to receive the goods and services produced in the economy?
• D)In what ways will progress be promoted?

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Definitions:

Cost Of Goods

The direct costs attributable to the production of the goods sold by a company, including the cost of the materials and labor.

Master Budget

An all-encompassing financial planning document that consists of various individual budgets, which detail a company's financial goals, strategies, and operational plans.

Finished Goods

These are products that have completed the manufacturing process and are ready to be sold to customers.

Finished Goods

Items that have finished being manufactured and are prepared for purchase.