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Why do all countries face the basic economic problem?
The basic economic problem is about scarcity and choice, which every society has to deal with.
What are the 3 basic economic questions faced by every society?
Well, honey, every society has to figure out what to produce, how to produce it, and who gets to consume it. It's like a never-ending game of economic musical chairs, but with more serious consequences. So, buckle up and get ready to make some tough choices, because ain't nobody getting a free ride in the world of economics.
What are the three basic questions that every economic system must answer?
In every type of economy? How about -- growth rate, employment rate, and trade balance.
What are three economic choices every society must make?
The three economic choices every society must make is what the society will produce, how it will be produced, and who will get what is produced.
What are the 3 basic questions every society must answer?
I would say that it is 1.What should be produced? 2. For whom should we produce? 3.How should we produce?
Why do all countries face the basic economic problem?
The basic economic problem is about scarcity and choice, which every society has to deal with.
What three basic economic questions must be answered by every society?
What goods and services should be produced?How should the goods and services be produced?Who should get the goods and services?
What are the 3 basic economic questions faced by every society?
Well, honey, every society has to figure out what to produce, how to produce it, and who gets to consume it. It's like a never-ending game of economic musical chairs, but with more serious consequences. So, buckle up and get ready to make some tough choices, because ain't nobody getting a free ride in the world of economics.
What are the three basic questions that every economic system must answer?
In every type of economy? How about -- growth rate, employment rate, and trade balance.
What are three economic choices every society must make?
The three economic choices every society must make is what the society will produce, how it will be produced, and who will get what is produced.
What are the 3 basic questions every society must answer?
I would say that it is 1.What should be produced? 2. For whom should we produce? 3.How should we produce?
What are the basic questions every society must answer?
What goods and services are to be produced with the limited resources of a society.? How can the limited resources be used to benefit the society? Who are to be benefited from the existing resources:? How can the economy change to the fluctuating environment? How can health and sustainability be addressed?
What are the 5 basic questions every society must answer?
What goods and services are to be produced with the limited resources of a society.? How can the limited resources be used to benefit the society? Who are to be benefited from the existing resources:? How can the economy change to the fluctuating environment? How can health and sustainability be addressed?
Why are economies never purely market or command economies?
Neither purely market nor purely command economies can adequately answer the basic economic questions in every situation. -Plato
Why is family the basic unit of society?
The family is the basic unit of society because every individual must belong to a family. A number of families together form a community or a society.
What are the three fundemental questions that every economic system must answer?
what to produce. how to produce. who gets it
What are three economic questions every country must answer?
What to produce. How to produce. and How much to produce.
