The concept of "the economy" is most analogous to the concept of
O an industry.
O "the firm."
O "the family."
O "free enterprise."

The concept of 'the economy' is most analogous to the concept of 'the firm.' Economists often use the analogy of a firm to analyze production in an economy. Just as a firm transforms inputs into outputs, the economy as a whole does the same. The economy is a social institution that manages a society's resources and organizes the production, distribution, and consumption of goods and services.

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The concept of "the economy" is most analogous to the concept ofO an industry.O "the firm."O "the family."O "free enterprise."

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The concept of "the economy" is most analogous to the concept of
O an industry.
O "the firm."
O "the family."
O "free enterprise."