Question : Name the vital processes of an economy.
Option 1: Production
Option 2: Consumption
Option 3: Investment
Option 4: All of the above
Answer (1)
22nd Jan, 2024
Correct Answer: All of the above
Solution :
The mechanism of the economy enables individuals to live. Every economy must engage in three economic activities in order for this goal to be achieved:
1. Production,
2. Consumption, and
3. Investment or capital formation.
These economic operations are referred to as being fundamental or necessary to an economy.
Hence, the correct option is 4.
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