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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.


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


What type of economy answers the three basic economic questions?

3 types of economic system


What is the economic system of Austria?

Australia has a mixed-market economic system in which there is a mixture of control by the government and freedom of individual enterprise and in which the basic economic questions ...


What do three economic systems have in common?

Each system represents different answers to the four basic economic questions.


The way a country answers the three basic economic questions determines its?

traditional system.


What do all three economic systems have in common?

Each system represents different answers to the four basic economic questions.


Which of these represents a market economic system?

By buying or not buying goods and services, consumers provide answers to the 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.