Yes or no. To have a favorable balance of trade, a country must sell fewer goods to other countries than it buys from other countries.
Yes or no.Money is an example of an capital resource.
Yes or no.In our economic system, people receive wages for producing goods or providing services.
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Yes or no. To have a favorable balance of trade, a country must sell fewer goods to other countries than it buys from other countries.
No. To have a favorable balance of trade, a country must sell more goods to other countries than it buys from other countries. A positive balance of trade occurs when a country exports (sells) more goods and services than it imports (buys) from other countries.
Yes or no. Money is an example of a capital resource.
No. Money is not considered a capital resource. Capital resources refer to the physical assets, such as machinery, equipment, and infrastructure, used in the production of goods and services. Money, on the other hand, serves as a medium of exchange and a store of value in an economy.
Yes or no. In our economic system, people receive wages for producing goods or providing services.
Yes. In most economic systems, including market economies, people receive wages for producing goods or providing services. Wages are a form of compensation or payment for labor, and they represent an individual's contribution to the production process.