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What is the basic economic problem that makes choices necessary?

The basicc economic problem that makes choices necessary is that there are limited economic resources & unlimited human wants.


Examples of economic choices you have to make?

different people make different economic decisions


What are the basic economic choices?

first of all, ask yourself the definition of economic choice


What are the career choices in the game of LIFE?

economic problems


What are three economic choices every society must make?

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.


How do you make the best economic choices?

make a scale of preferences


How do personal choices factor into the economic decision?

Personal preferences determine demand amongst economic agents.


Can you give an example of a sentence using the word 'economic'?

It was characteristic of Jim to make thrifty and economic choices.


In what phase of the economic cycle above would individuals experience the most freedom in their economic choices?

peak


What are the different alternative choices available within the field of economics?

In the field of economics, there are various alternative choices available, such as different economic systems (capitalism, socialism, etc.), different economic policies (monetary policy, fiscal policy), and different economic theories (Keynesian economics, neoclassical economics). These choices impact how resources are allocated, how wealth is distributed, and how economic growth is achieved.


When people have the right to make economic choices what do they live in?

home-based


People must make choices to satisfy their needs and wants?

Economic