Fill in the Blanks. Write the most APPROPRIATE WORD OR
STATEMENT referred to in the following definitions on the spaceprovided before each number.1. Factors that include all transactions that thebusiness has to interact with comprising land, labor, capital, technology,among others._2. An activity which makes one’s living or makesmoney by manufacturing, developing, buying and selling products (goods &services)?3. Taxes paid by business enterprise which areconsidered a component of production cost because it is added to capitaloutlay of the business in the operation4. The dollar exchange rate in the economictransactions directly affect the exports and imports cost of products.5. refer to the use of goods and services to satisfyhuman wants directly.6. refer to the use of goods and services to satisfy thebasic needs and wants of consumers.7. are the persons who buy the products businessoffers for sale