Answer:
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Answer:
The correct answer is: services.
Explanation:
Services can be defined as economic activities that produce intangible and non-physical products. For instance, education, health, tourism, hospitality, etc.
Services cannot be stored in inventory. They are produced and consumed at the same time. They cannot be produced in advance to be used in the future.
Answer:
The Output Effect
Explanation:
What is the Output Effect???
Definition: The situation in which an increase in the price of one input will increase a firm's production costs and reduce its level of output, this reducing the demand for other inputs; conversely for a decrease in the price of the input.
Answer: A - vested interests in the status quo
Explanation: Vested interests in the status quo is when people derive their income, job, status or power from something they have an interest in.
Even if the situation causes obvious harm to people or the environment, they work to keep the status quo for economic reasons. This causes a conflict of interest between what is good for the individual in the short term and what is good for humanity and the planet in the long term.
Vested interest structures impede and suppress innovations that would benefit society as a whole. The most practical solution is to implement a guaranteed livable income which would immediately reduce the impact and number of vested interests, and would free humanity to evolve and save the environment before it is too late.