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How do the four economic systems answer the three basic questions of economics?
Societies answer the three economic questions based on their values!
What are the three economic questions that economic systems must answer?
The 3 basic questions in economics are: What to produce? How to produce? For whom to produce?
What three questions does economics as a field of study attemp to answer?
What is to be produced? How will it be produced? For whom will it be produced? The questions are What to produce, How to produce and For whom to produce
What are three reasons that ordinary citizens should have some basic knowledge of economics?
the three reasons that ordinary citizens should have some basic knowledge of economics is that it is a dual relationship for a free society, our constitutional rights as citizens and to have a say so in future developments.
What are the basic division in economics?
micro economics and macro economics
What caused the nation to have to answer the three basic economics questions?
Scarcity of resources
How do the four economic systems answer the three basic questions of economics?
Societies answer the three economic questions based on their values!
What are the three economic questions that economic systems must answer?
The 3 basic questions in economics are: What to produce? How to produce? For whom to produce?
What three questions does economics as a field of study attemp to answer?
What is to be produced? How will it be produced? For whom will it be produced? The questions are What to produce, How to produce and For whom to produce
What are three reasons that ordinary citizens should have some basic knowledge of economics?
the three reasons that ordinary citizens should have some basic knowledge of economics is that it is a dual relationship for a free society, our constitutional rights as citizens and to have a say so in future developments.
What are the basic division in economics?
micro economics and macro economics
Critically discuss the three basic strategic questions?
Yes
What are basic principles of economics?
What are the principles of economics
What is the basic concern of economics?
the basic concern of economics is to study the choices people make
What three basic questions do economic systems address?
Economists also study how economic systems address three basic questions: What shall we produce?; How shall we produce it?; For whom shall we produce it?
The three basic economic questions are what to produce where to produce and how to distribute?
false
How does each type of economy answer the three basic questions?
market economy
