What economic activity is necessary for consumption to occur? - ProProfs Discuss
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What economic activity is necessary for consumption to occur?



A. Production
B. Opportunity
C. Financing
D. Management

This question is part of Hospitality and Tourism 1077 2012-2013 State
Asked by Greg.eppes, Last updated: Jun 30, 2020

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greg.eppes

Greg.eppes

Answered Aug 17, 2018

Production

Production. The movement of goods, services, and resources is possible because of four economic activities: consumption, production, exchange, and distribution. In order for consumption to occur, goods and services must be made or produced. Production relies on consumers to provide resources, and consumption relies on producers to provide goods and services. Opportunity is a chance or benefit. Financing is a marketing function that involves understanding the financial concepts used in making business decisions. Management is the process of coordinating resources in order to accomplish an organizations goals. SOURCE: EC:001 SOURCE: EC LAP 6Are You Satisfied? (Concept of Economics)
 

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