Questions

01.02.2016 09:35

1. what is economy?
2. What are the sectors of economy?
3. What is the function of money in economy?
4. What are the cycles of economy?

Answers:

1. An entire network of producers, distributors, and consumers of good and services in a local, egional, or national cummunity.
2. A nation economy can be divided into various sectors to define the propotion of the population engaged in the activity sectorengaged in the activity sector
3. Unit of accont 

• stor of value
• medim of exchange
• standard of deferred payment

       4. the natural fluctuation of the economy betweenperdiods of expansion (grouth) and contraction (recesion). Factors such as gross domestic product (GDP), iterest ratesm levels of emplyment and consumer spending can hel to determinethe current stage of the economic cycle.

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