It can be derived from the text that an economic system can be defined as

Date: 2015-10-07; view: 403.

What is most likely the source the text has been taken from?

Which of the following is the main idea of the text?

Economic Systems

Unit 1 Reading Self – Control Test

(A) An economy consists of the economic system of a country or some other area, the labor, capital and land resources, and the economic agents that socially participate in the production, exchange, distribution and consumption of goods and services of that area.

(B) A given economy is the end result of a process that involves its technological evolution, history and social organization.

(C) The categorization of different types of economy is based on the correlation of the private and public sectors within the economy.

(D) Different factors give context, content, and set the conditions and parameters in which an economy functions.

(A) a government's report

(B) a textbook

(C) a newspaper

(D) a science fiction book

(A) a set of institutions that society uses to answer the three basic questions of allocation of resources and seeks to solve the fundamental problem of scarcity.

(B) The system of production, distribution, and consumption of goods and services that a society uses to address the problem of scarcity.

(C) A social science that studies the allocation of limited resources to the production of goods and services used to satisfy consumer's unlimited wants and needs.

(D) Forces in the marketing environment that include decisions made by consumers and business organizations.