Question Detail
Question
According to the first perspective presented in the text, what is the concept of political economy primarily concerned with?
Correct Answer
Option B is the correct answer.
Detailed Explanation
The text states, 'First, it refers to the nature and organisation of an economy in terms of ownership or distribution of the means of production. The structure of ownership of the means of production is termed property relations.' This directly defines the primary concern of political economy from the first perspective.
Hint
Think about the fundamental elements that determine how an economy is organized and who controls its resources.