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1 - What goods and services will be produced?
2 - How will the goods and services be produced?
3 - Who will get the goods and services?
4 - How will the system accommodate change?
5 - How will the system promote progress?
What else can I help you with?
What is the definition of basic economic questions?
Basic economic questions all deal with scarcity. These type of questions must be asked so that economic decisions will be made that are beneficial.
In which economic system do individuals answer the basic economic questions?
market economy
How do the four economic systems answer the three basic questions of economics?
Societies answer the three economic questions based on their values!
What are the three economic questions that economic systems must answer?
The 3 basic questions in economics are: What to produce? How to produce? For whom to produce?
In this economic system smith believed that basic economic questions were answered by which group?
market
How do we classify a nation's economic system?
According to how the three basic economic questions are answered.
Who what where when why?
The basic questions of a journalist: the five W's and the H, for how.
The basic economic questions are answered as you have always done?
traditional
What three basic questions do economic systems address?
Economists also study how economic systems address three basic questions: What shall we produce?; How shall we produce it?; For whom shall we produce it?
In his economic system smith believed that basic economic questions were answered by which group?
market aPLUS
What type of economic system answers the basic economic questions in the circular flow?
Free Enterprise
What type of economic system answers the basic economic questions in the circular model?
Free Enterprise
