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The three basic economic questions to consider are: What to produce? This involves determining which goods and services to create based on resources and consumer demand. How to produce? This question focuses on the methods and processes to use in production, including technology and labor choices. Finally, who gets to consume the products? This addresses the distribution of goods and services among individuals and groups in society, influenced by factors like income, wealth, and social policies.
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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!
How do we classify a nation's economic system?
According to how the three basic economic questions are answered.
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?
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?
The three basic economic questions are what to produce where to produce and how to distribute?
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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!
How do we classify a nation's economic system?
According to how the three basic economic questions are answered.
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?
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?
The three basic economic questions are what to produce where to produce and how to distribute?
false
What type of economy answers the three basic economic questions?
3 types of economic system
What term causes a nation to have to answer the three basic economic questions?
Scarcity of resources
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.
Which economy answers the three basic economic questions with the phrase Do as you have always done?
traditional
Which economy answers the three basic economic questions with the phrase Do as we have always done?
Market
What are the three basic economic questions must be answered in a barter economy.?
guide the economy
