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Cloud [144]
3 years ago
7

Suppose that an economy consists of only two individuals. Jeremy has $1690 available to spend on goods. He decides to purchase $

470 worth of produce from Michele in the current quarter. No other economic activity takes place during the current quarter. Using this information, answer the questions. For the current quarter, what is the economy's income?
Business
1 answer:
Zigmanuir [339]3 years ago
6 0

Answer:

$470

Explanation:

The calculation of the economy income is given below:

Since $1,690 spend on goods and then he decided to purchase for $470 in order to generate it

So here we can see that there is one and only economic activity that took place at the present quarter that is of $470

Therefore the economy income is $470

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<h3>What is Production Oriented Era?</h3>

Production Oriented Era can be regarded as an era in which manufacturers were concerned with product innovation, they do this instead of meeting customers needs.

In this era Retailers were considered places to hold inventory until it was sold.

Learn more about Production Oriented Era at:

brainly.com/question/6264918

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