1. How to allocate scarce resources among unlimited wants and
2. how to decide what to produce, how to produce, and for whom to produce.
what, how, how much, and for whom to produce
true
The central problem in economics is that resources are scarce and have alternative uses, but our wants are without limits! Therefore not all of our wants can be satisfied. We must therefore choose what goods and services to produce and therefore which of our many wants to satisfy.
what three questions must all economic systems answer?
it is the revolution
where will the good be produced
what, how, how much, and for whom to produce
Which goods should be produced? How will the goods be produced? For whom will the goods be produced? How much goods should be produced? At what rate will the goods depreciate? A+
true
The central problem in economics is that resources are scarce and have alternative uses, but our wants are without limits! Therefore not all of our wants can be satisfied. We must therefore choose what goods and services to produce and therefore which of our many wants to satisfy.
what three questions must all economic systems answer?
No problems at all.
it is the revolution
What to produce?How to produce?For whom to produce?These are the three fundamental questions that all Economic systems must answer.
Many cities face all sorts of different problems. They face problems of poverty, crime, injustice, unemployment, education issues, and environmental issues.
What is international economic instability
Lack of economic diversity that is all nothing else