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Q: What three plastics are economically viable to recycle?
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Continue Learning about Economics

It is a system whereby goods are produced and exchanged?

An economy is a system whereby goods are produced and exchanged. Without a viable economy, a state will collapse. There are three main types of economies: free market, command, and mixed.


What are three causes of population growth?

Infant mortality rate decreasing due to improved medical care. Death rate decreasing due to higher living conditions and medical care. High birth rate in LEDCs (Less Economically Developed Countries) due to large sized family traditions and culture


What three basic questions do countries ask when planning their economies?

What to Produce, For whom to produce it to, and how to Produce


What are the three major factors of production?

To name only three: - Firstly, you need to research need, what you are trying to achieve and verify resources are suitable, available and sustainable. This includes the raw materials, the collateral to purchase these materials and a place to utilise or store these materials. Secondly, you need to be able to convert these raw materials into a viable product that can be utilised by a consumer. Much the same way as plants convert sunshine and nutrients. Thirdly, Demand, Cost and Efficiency. You need to know the markets current and future needs, and how to supply suitable quantities with the least expenditure over the total production and distribution cycle. This a somewhat simplistic overview of the more complex factors of production.


When was The Three Questions created?

The Three Questions was created in 1885.