Question

briefly explain three distinct components of
economics

Answer 1

Explanation:

here is your answer

• Three distinct components of economics are consumption, production and distribution. ... GDP is distributed among the agents (factors) of production in the form of wages/salaries, profits, interests and rents.

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Answer 2

Answer:

The correct answer to this question is consumption, production and distribution.

Explanation:

Given - Three distinct components of economics.

To Find - Write the distinct components of economics.

Three distinct components of economics are consumption, production and distribution.

An economy is a sizable group of interconnected production and consuming activities that help decide how limited resources are distributed. The creation and consumption of commodities and services in an economy serve to meet the needs of individuals who live and work there.

Primary, secondary, and tertiary economic activity are the three categories. Principal Exercises. Primary activities are those that directly involve the exploitation and production of natural resources. For instance, mining, fishing, and agriculture.

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