Answered

Connect with knowledgeable experts and enthusiasts on IDNLearn.com. Our experts provide prompt and accurate answers to help you make informed decisions on any topic.

5. What is the role and significance of goods and services in an economy?

Sagot :

GinnyAnsweridn

Final answer:

Goods and services are essential components of an economy, meeting the needs and wants of individuals and supporting overall societal welfare.


Explanation:

Goods and services play a crucial role in an economy as they are the products and assistance provided to fulfill people's needs and desires. Goods are tangible items like clothing and food, while services are actions that satisfy needs, such as healthcare or education. The consumption of goods and services drives economic activity, benefiting both individuals and the society as a whole.


Learn more about Role and significance of goods and services in an economy here:

https://brainly.com/question/1838560


Thank you for participating in our discussion. We value every contribution. Keep sharing knowledge and helping others find the answers they need. Let's create a dynamic and informative learning environment together. Find clear and concise answers at IDNLearn.com. Thanks for stopping by, and come back for more dependable solutions.