The Three Questions Of Economics

3 September 2022
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question
Which of the following best illustrates the importance of addressing the three questions of economics?
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Businesses need to use limited resources wisely
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Resources needed to provide goods or services are called
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Factors of production
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Which of the following will be accomplished by assessing the factors of production?
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Guaranteeing the fulfillment of needs and wants
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One of the three economic questions deals with deciding
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What goods and services should be produced
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Fantastic Snack Company has spent months developing a new type...
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Not meeting the wants of its consumers
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Which consideration must be addressed when deciding for whom to produce?
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Who has the greatest need?
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One of the main questions of economics addresses who should
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Receive goods and services
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Which of the following is an example of a land resource?
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Cow
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The questions of economics address which of the following? Check all that apply.
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Who, What, How
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Failure to address the three questions of economics will have what kind of impact...
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It will have negative consequences
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One of the main questions of economics involves deciding upon the method for
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creating goods and services
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Zahara Smith is wondering how she can make her check strength enough to afford...
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Needs and wants
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If a specific economy has extra capital resources available, it will
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Be able to produce both needed and wanted products