The Three Questions Of Economics

produce goods and services. (X) market goods and services. receive goods and services. distribute goods and services. (C)

money available to be invested in a company water held in a reservoir (C) a city's population electricity produced by a nearby power plant (X)

It will have no consequences. It will help meet citizens' needs and wants. It will have negative consequences. (C) It will help contribute to the success of the society. (X)

loom (C)

Who can be most creative with the product? Who has the largest resource pool? Who has the greatest need? Who can bring in the greatest profit? (X)

Should we produce jeans with expensive machinery or less expensive labor? Can we market our jeans to teenagers or focus on people in their twenties? Do we have enough customer support to charge more for our jeans? (X) Are jeans still "in," or should we develop a line of skirts instead?

fulfilling many needs and wants of society (C)

production (C)

conserving too valuable resources spending capital it did not have not researching production methods (X) not meeting the wants of its consumers

determining who has the greatest need finances of prospective buyers(X) methods traditionally used to make a good ways to produce items at a lower cost or higher quality (X) ways to make the biggest profit (X)