The basicc economic problem that makes choices necessary is that there are limited economic resources & unlimited human wants.
first of all, ask yourself the definition of economic choice
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.
Personal preferences determine demand amongst economic agents.
The basicc economic problem that makes choices necessary is that there are limited economic resources & unlimited human wants.
first of all, ask yourself the definition of economic choice
different people make different economic decisions
economic problems
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.
make a scale of preferences
It was characteristic of Jim to make thrifty and economic choices.
peak
Personal preferences determine demand amongst economic agents.
Economic
home-based
There are six core economic principles: 1: The people choose 2: All choices involve costs 3: People respond to incentives in predictable ways 4: Economic systems influence individual choices and incentives 5: Voluntary trade creates wealth 6: The consequences of choices lie in the future.