Answered: How has olive oil impacted the economy?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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How has olive oil impacted the economy?

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Economy

An economy is a region where products and services are produced, distributed, traded, and consumed.
It is generally understood to be a sociological domain that places an emphasis on the behaviors, discourses, and tangible manifestations connected to the creation, utilization, and management of finite resources.
One's cultures, beliefs, knowledge, technological development, history, social organization, political structure, legal system, and natural resources are all major determinants of an economy's procedures.
These elements establish the rules and conditions under which an economy operates in addition to providing background and content.
In plenty of other words, the macroeconomic realm is a societal domain made up of connected human behaviors and exchanges that cannot exist independently.

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