What are the definitions of communist, semidurable, residual items, and mass production in economics?

Hey Zoleka, good to see you again. Here are the answers to your multiple-choice questions: 1.1.1 An economic system that is characterised by state ownership of resources and centralized planning is the ... The correct option is C. In a communist economic system, the state owns the means of production and makes all economic decisions through centralized planning. C. communist 1.1.2 Goods that last for a while, after which they must be replaced are called ... goods The correct option is D. Semi-durable goods are products that can be used repeatedly over a period of time, typically less than three years, before needing replacement (e.g., clothing, footwear). D. semidurable 1.1.3 Possible errors that could have been made in the calculation of expenditure items are included as the ... The correct option is C. Residual items (or statistical discrepancies) are used in national accounts to balance the different methods of calculating GDP, accounting for unmeasured or mismeasured components. C. residual items 1.1.4 The manufacturing of similar products in large quantities using machines in a factory is referred to as ... The correct option is B. Mass production involves producing large quantities of standardized products, often using assembly lines and machinery, to achieve economies of scale. B. mass production 1.1.5 Physical capital such as tangible assets used in production is referred to as ... capital The correct option is A. Real capital refers to physical assets like machinery, buildings, and equipment that are used in the production of goods and services. A. real Send me the next one 📸