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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?
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?
How are economic questions answered in a command economy?
discuss the basic economic problem?
What do all three economic systems have in common?
Each system represents different answers to the four basic economic questions.
What economic systems are the basic economic questions answered by the way people have lived over a long period of time?
Traditional Econmy
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?
What do economics systems of other countries have in common with the US?
They face the same basic economic problems
What do the economics systems in other countries have in common with the economic system of the us?
They face the same basic economic problems
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?
How are economic questions answered in a command economy?
discuss the basic economic problem?
What do three economic systems have in common?
Each system represents different answers to the four basic economic questions.
What do all three economic systems have in common?
Each system represents different answers to the four basic economic questions.
What economic systems are the basic economic questions answered by the way people have lived over a long period of time?
Traditional Econmy
What is the term used to describe economic systems in which the basic economic questions are answered based on a socially pre-established way?
tradiotnational
What combines the elements of pure economic systems?
A mixed economy combines elements of traditional, market, and command economic models to answer the three basic economic questions.
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.
What are the three basic questions in economics?
Who is prouducing what are they prouducing and how are they producing
