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What three questions determine a country's economic system?
There are three simple questions an economy of a country must answer. They are "what to produce," "how to produce," and "for whom to produce."
What are three economic questions every country must answer?
What to produce. How to produce. and How much to produce.
What are the three economic questions that every country must answer?
What to produce. How to produce. and How much to produce.
When one country can produce a product more cheaply than another country. what can this be called?
When one country can produce a product more cheaply than another country this is called comparative advantage. When one country can produce more goods than another using an equal amount of resources, this is called absolute advantage.
A point that lies outside a country's production possibilities curve mean what?
A point that lies outside a country's production possibilities curve means that the country is not able to produce. The possibility curve shows how a country can efficiently produce.
When a country can produce many things but chooses to produce one main thing or just a few things this country is said to be?
When a country can produce many things but chooses to produce one main thing, or just a few things, this country is said to be
What three questions determine a country's economic system?
There are three simple questions an economy of a country must answer. They are "what to produce," "how to produce," and "for whom to produce."
What does the country Europe produce?
Europe is not a country but a continent.
What are three economic questions that every country must answer?
What to produce. How to produce. and How much to produce.
What are three economic questions every country must answer?
What to produce. How to produce. and How much to produce.
What country Oceania or Australia produce the most bauxite?
Oceania is not a country. So that just leaves Australia as the country to produce the most bauxite.
What determines what a country can produce?
sex
What are the three economic questions that every country must answer?
What to produce. How to produce. and How much to produce.
Why a country may choose to produce below its production possibility curve?
A country may not choose to produce below it's ppc but the situation in that country derive it to do so
Do different parts of the country produce different amounts of rubbish?
yes different parts of the country produce different amounts of rubbish
Can you have descriptive words to describe country?
it is a type of country that produce health
When one country can produce a product more cheaply than another country. what can this be called?
When one country can produce a product more cheaply than another country this is called comparative advantage. When one country can produce more goods than another using an equal amount of resources, this is called absolute advantage.
