Asked by
Vesna Mickl
on Nov 11, 2024Verified
Every economy must answer each of the following questions except one.Which is the exception?
A) Which goods will be produced?
B) Why are these particular goods produced?
C) Which resources should be used?
D) How should resources be combined to produce each product?
E) Who will actually consume the goods produced?
Economic Questions
Fundamental questions that societies address regarding allocation of resources and distribution of goods and services; typically includes "what to produce," "how to produce," and "for whom to produce."
Particular Goods
Specific items or products that are distinguished by their unique features, functions, or qualities from general or generic goods.
- Recognize the foundational inquiries any economic system must address concerning the decisions on what to produce, how to produce it, and for whom it is produced.
Verified Answer
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Learning Objectives
- Recognize the foundational inquiries any economic system must address concerning the decisions on what to produce, how to produce it, and for whom it is produced.