This system provides materials needed for goods and services, and serves as a sink for our wastes:

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter8: Market Failure
Section: Chapter Questions
Problem 6P
icon
Related questions
Question

This system provides materials needed for goods and services, and serves as a sink for our wastes:

 

a - manufacturing system
b - health care system
c - transportation system
d - ecological system
e - economic system
Expert Solution
Step 1

Manufacturing system: The manufacturing system is responsible for implementing and operating the production system in order to produce goods and services in the economy. It also includes purchase, distribution and installation of physical manufacturing component. It is a process of converting raw materials, components , or partial finished goods that meets the satisfaction level of the consumers. Therefore it can be said manufacturing system needs or require materials  to produce goods and services but does not provide materials needed for goods and services hence this option can be wave out.

 

Health care system: It refers to the institutions, people and resources involved in delivering healthcare to the individuals considering their benefit and utility through serving within the system It does not provide materials for any production purpose as it's sole purpose is providing service to humanity. 

trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Exhaustible Resources
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Exploring Economics
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc
Principles of Economics 2e
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
Economics For Today
Economics For Today
Economics
ISBN:
9781337613040
Author:
Tucker
Publisher:
Cengage Learning
Micro Economics For Today
Micro Economics For Today
Economics
ISBN:
9781337613064
Author:
Tucker, Irvin B.
Publisher:
Cengage,
Economics:
Economics:
Economics
ISBN:
9781285859460
Author:
BOYES, William
Publisher:
Cengage Learning
Principles of Microeconomics
Principles of Microeconomics
Economics
ISBN:
9781305156050
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning