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Q: What are economic choices shaped by?
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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.


What are the basic economic choices?

first of all, ask yourself the definition of economic choice


Examples of economic choices you have to make?

different people make different economic decisions


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


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


How do personal choices factor into the economic decision?

Personal preferences determine demand amongst economic agents.


People must make choices to satisfy their needs and wants?

Economic


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

home-based


How many core economic principles are there?

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.