The three fundamental economic questions are what to produce, _______ , and for whom.
а why
b how
c when
d where
Homework Answers
As an economic agent or entrepreneur , there are three fundamental economic questions that we should when deciding how to use scarce resources are: what to produce , how to produce and for whom to produce. Hence, option(B) is correct.
The three fundamental economic questions are: to produce to produce to produce 1. 2. Fill in...
The three fundamental economic questions are: to produce to produce to produce 1. 2. Fill in the correct type of economic system next to each description of how the three economic questions are answered: traditional, command, or market as decided by a dictator or central authority as necessary for businesses to sell products to the public for a profit the way they have always been answered (according to customs)
Write a one-paragraph response. Consider three of the fundamental economic questions: What to produce? How to...
Write a one-paragraph response. Consider three of the fundamental economic questions: What to produce? How to produce? and Who gets the products? Briefly discuss how each of these three is decided In a market system.
The core of most economics debates comes back to the three core questions that we are...
The core of most economics debates comes back to the three core questions that we are trying to answer (what to produce, how to produce and for whom to produce). Do you favor laissez faire approach or government intervention? Why? How does the government approach impact economic growth in the long run?
Respond to the questions on the next page-with proper application of economic-theoryin a- minimum of three...
Respond to the questions on the next page-with proper application of economic-theoryin a- minimum of three solid-paragraphs per question and-your answers toall of the questions in total should include a minimum-of1,500-words 1-»The most common -example-ofamarket with perfectcompetition is agriculture. How- could-farm subsidiesdistort a model of perfect competition? Explain.I 2-*American-corn farmers receive billions of dollarsin-taxpayer subsidies each-year. These subsidies allow them to sell their grain at prices below what it costs to produce it, partilarly for export-markets. How-do-U.S. com-subsidies hurt Mexican...
One of the three basic questions an economy has to face isgoods and services will be...
One of the three basic questions an economy has to face isgoods and services will be produced. True or False: Under market organization, individuals can c where pte their preferences to other decision makers directy, through communication, but not indirectly, through their choice of whom to transact when how why O False O True
Economic efficiency is the primary guide in answering which of the fundamental questions in a market...
Economic efficiency is the primary guide in answering which of the fundamental questions in a market economy? Multiple Choice O How can the system accommodate change? 0 What will be produced? Who is to receive the output? 0 0 How is the output to be produced? < Prev 15 of 50 !!! Next > Firms are motivated to minimize production costs because Multiple Choice the government provides tax credits and subsidies to low-cost producers. o least-cost production techniques use the...
is the process by which a nation changes its fundamental economic organization and creates new free-market...
is the process by which a nation changes its fundamental economic organization and creates new free-market institutions Select one a. Central planning b. Industrialization c Economic liberalism d. Economic transition
Which of the following is not a strength of the market system? A. Equity B. Profit...
Which of the following is not a strength of the market system? A. Equity B. Profit C. Efficiency D. Equality E. Social Welfare Which of the following is a method by which countries can answer the three economic questions (what, how and for whom to produce?) SELECT ALL THAT APPLY A. The Market System: Demand and Supply B. Fairness C. The Government D. Profit E. The Price System F. How these questions were answered in the past G. All of...
Answer the following questions that pertain to topics presented in chapter 1. 1. A fundamental issue...
Answer the following questions that pertain to topics presented in chapter 1. 1. A fundamental issue being discussed in America is whether healthcare should be provided to all people, or if individuals should earn the privilege and pay for their own care if they choose to do so. What do you think? 2. How do laws, regulations, and rules relate to each other? Explain your answer. 3. Why is it important to understand healthcare law and ethics when you are...
1. Which of the following describes the reason why scarcity exists? A. Governments make bad economic...
1. Which of the following describes the reason why scarcity exists? A. Governments make bad economic decisions. B. The gap between the rich and the poor is too wide. C. Wants exceed the resources available to satisfy them. D. There is too much unemployment. 2. Which of the following defines economics? Economics is the social science that studies ________. A. the best way of eliminating scarcity B. the choices made to cope with scarcity, how incentives influence those choices, and...
The three fundamental economic questions are: to produce to produce to produce 1. 2. Fill in the correct type of economic system next to each description of how the three economic questions are answered: traditional, command, or market as decided by a dictator or central authority as necessary for businesses to sell products to the public for a profit the way they have always been answered (according to customs)
Write a one-paragraph response. Consider three of the fundamental economic questions: What to produce? How to produce? and Who gets the products? Briefly discuss how each of these three is decided In a market system.
The core of most economics debates comes back to the three core questions that we are trying to answer (what to produce, how to produce and for whom to produce). Do you favor laissez faire approach or government intervention? Why? How does the government approach impact economic growth in the long run?
Respond to the questions on the next page-with proper application of economic-theoryin a- minimum of three solid-paragraphs per question and-your answers toall of the questions in total should include a minimum-of1,500-words 1-»The most common -example-ofamarket with perfectcompetition is agriculture. How- could-farm subsidiesdistort a model of perfect competition? Explain.I 2-*American-corn farmers receive billions of dollarsin-taxpayer subsidies each-year. These subsidies allow them to sell their grain at prices below what it costs to produce it, partilarly for export-markets. How-do-U.S. com-subsidies hurt Mexican...
One of the three basic questions an economy has to face isgoods and services will be produced. True or False: Under market organization, individuals can c where pte their preferences to other decision makers directy, through communication, but not indirectly, through their choice of whom to transact when how why O False O True
Economic efficiency is the primary guide in answering which of the fundamental questions in a market economy? Multiple Choice O How can the system accommodate change? 0 What will be produced? Who is to receive the output? 0 0 How is the output to be produced? < Prev 15 of 50 !!! Next > Firms are motivated to minimize production costs because Multiple Choice the government provides tax credits and subsidies to low-cost producers. o least-cost production techniques use the...
is the process by which a nation changes its fundamental economic organization and creates new free-market institutions Select one a. Central planning b. Industrialization c Economic liberalism d. Economic transition
Answer the following questions that pertain to topics presented in chapter 1. 1. A fundamental issue being discussed in America is whether healthcare should be provided to all people, or if individuals should earn the privilege and pay for their own care if they choose to do so. What do you think? 2. How do laws, regulations, and rules relate to each other? Explain your answer. 3. Why is it important to understand healthcare law and ethics when you are...
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