Answer: An economic activity takes place when resources such as capital goods, labor, manufacturing techniques, or intermediary products are combined to produce specific goods or services.
Explanation: An economic activity takes place when resources such as capital goods, labor, manufacturing techniques, or intermediary products are combined to produce specific goods or services. Thus, economic activity is characterized by an input of resources, a production process, and an output of products (goods or services).
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Answer: An economic activity takes place when resources such as capital goods, labor, manufacturing techniques, or intermediary products are combined to produce specific goods or services.
Explanation: An economic activity takes place when resources such as capital goods, labor, manufacturing techniques, or intermediary products are combined to produce specific goods or services. Thus, economic activity is characterized by an input of resources, a production process, and an output of products (goods or services).