Economics is an inquiry into the nature and causes of The Wealth of Nations. (Option C).
Who made the above statement?
Scottish-born Adam Smith, a philosopher and economic theorist, was born in 1723.
He is most known for his revolutionary work on economics, "An Inquiry into the Nature and Causes of the Wealth of Nations," published in 1776.
What would happen if the market for goods are located far form the factory that you have established?
The above scenario would translate into added costs which may lead to a loss. The additional cost will come from transporting goods to a far market. Hence the correct answer is option C.
Two type of related commodities are:
Supplementary and complementary goods (Option D).
Two things are considered supplementary or complementary when they are utilized in tandem. For instance, if you own a car, you also need gas to power it.
A supplemental item if you own a television would be an Amazon widget, which gives you access to a far wider selection of television shows.
Which of the following conditions implies extension of supply?
The condition where there is higher price, leading to higher supply meets the above criteria. Hence the correct answer, which corresponds with the law of supply, is Option D.
What is Tertiary Sector economic activity?
The tertiary sector encompasses a wide range of activities, including commercial and personal services, education, health care, social work, transportation, financial and real estate operations, and administration.
Hence the correct answer is (option A)
Car and Petrol are examples of?
The above are examples of complementary goods (Option A). This is because, you need petrol to be able to run a car.
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