Want this question answered?
economic choices are necessary because resources are limited while the human wants are unlimited.one has to make the best choice between or among alternatives according to the given inputs or resources which affect the total feasible output.
different people make different economic decisions
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.
Economic
home-based
economic choices are necessary because resources are limited while the human wants are unlimited.one has to make the best choice between or among alternatives according to the given inputs or resources which affect the total feasible output.
different people make different economic decisions
make a scale of preferences
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.
Some choices may result as a positive affect. Some chices may result as a negative affect. It all depends on the choices we make. But remember no one can make us to do anything. We all have choices! Hope this helps :)
a skarcity of resources
It was characteristic of Jim to make thrifty and economic choices.
Economic
home-based
Societies make choices about how to use their resources. Businesses make choices about what to produce and when to produce it.
Societies make choices about how to use their resources. Businesses make choices about what to produce and when to produce it.
Because these economic actors exist in a condition of scarcity, which means that they must make trade-offs to achieve their desires. Making trade-offs implies economic choices exist.