Asked by Kayla Stephens on May 04, 2024
Verified
The social institution that determines how a society produces,distributes,and consumes goods and services is called the
A) family
B) government
C) production sector
D) economy.
Social Institution
An organized and established system of social behavior with a recognized purpose, such as family, education, religion, or government.
Economy
A social institution that determines how a society produces, distributes, and consumes goods and services.
Produces
Creates or manufactures goods or outcomes through a process of effort or operation.
- Understand the role of the economy as a social institution and its influence on societal wealth distribution.
Verified Answer
RD
roxana doloresMay 07, 2024
Final Answer :
D
Explanation :
The economy is the social institution that determines how a society produces, distributes, and consumes goods and services. The economy includes all the individuals and organizations involved in the manufacture and exchange of goods and services for use or consumption by other people or organizations. The family, government, and production sector are all important parts of the economy, but they do not encompass the entirety of the economic system.
Learning Objectives
- Understand the role of the economy as a social institution and its influence on societal wealth distribution.
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