A ___________ is known as planned economy.
Free market economy
Mixed economy
Command economy
None of these
A _____________ has both a private sector and a public sector.
Market economy
Resources are combined in the process of __________ to create goods and services.
Production
Consumption
Capital
The process through which individuals to use up goods and services to satisfy wants is known as ___________.
_____________ are the essential for the production process.
Factors of production
Cost of production
Limited resources
_____________ help land and labour produce more units of output.
Capital goods
Producer goods
Consumer goods
The basic economic problem exists, societies need to confront __________ interrelated questions.
Two
Three
Four
_____________ allows more goods and services to be produced.
Industrialisation
Specialisation
What are the factors of production ?
Land, labour and capital.
Land, labour and enterprise.
Land, labour, capital and enterprise.
Land, capital and enterprise.
