Which of the following is not one of the three fundamental economic questions? a. For whom to produce? b. How to produce? c. What to produce? d. What happens when you add to or subtract from a current situation? | Homework.Study.com (2024)

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• Which of the following is not one of the three fundamental economic questions? a. What happens when you add to or subtract from a current situation? b. For whom to produce? c. How to produce? d. What to produce?
• Which of the following is not one of the basic economic questions? a. What to produce? b. How to produce? c. Where to produce? d. For whom to produce?
• Which of the following best describes the three fundamental economic questions? a. What to produce, when to produce, and where to produce b. What time to produce, what place to produce, and how to produce c. What to produce, when to produce, and for wh
• Which of the following best describes the three fundamental economic questions? a. what to produce, where to produce, and where to produce. b. what time to produce, what place to produce, and how to produce. c. What to produce, when to produce, and fo
• An economic system must answer four fundamental questions. Which of the following is not one of the fundamental questions? A. What to produce? B. How to produce? C. For whom is the output to be produced? D. When to produce?
• Which of the following questions must be answered by all economics? a. How much to produce? When to produce? How much does it cost? b. What is the price? Who will produce it? Who will consume it? c. What to produce? How to produce? For whom to produce? d.
• Describe how the three fundamental economic questions of what, how, and for whom are used to produce goods and services.
• Every economy has to answer a few basic questions such as "what to produce" and "how to produce." What does the "how to produce" question mean in the context of the economy?
• How does a centrally planned economy solve the central economic problems (what to produce, how to produce, and for whom to produce)?
• Which of the following decisions must be made by all economics? a. How much to produce? When to produce? How much does it cost? b. What is the price? Who will produce it? Who will consume it? c. What to produce? How to produce? For whom to produce? d. Non
• Which of the following is a fundamental economic question? A. Who will get how much of each good and service? B. Who should pay taxes? C. Who will work? D. Who will make the economic decisions? E. Who will be allowed into the economy?
• The two big economic questions include all of the following except: A) what to produce. B) how to produce. C) for whom to produce. D) why to produce. E) can choices made in the pursuit of self-interest also promote the social interest.
• Which of the following questions are fundamental questions that every economic system must answer? i. What goods should be produced? ii. How can firms maximize profits? iii. When can the goods be delivered? iv. How should the goods be produced? v. W
• The Invisible Hand Theorem states that the market system will generally answer which of the following question(s) correctly? A. For whom to produce? B. How to produce? C. What to produce? D. B and C are both correct.
• All economic systems have to answer the following questions. What goods should be produced? How should the goods be produced? For whom should the goods be produced? Why must these questions be asked?
• What are the basic economic questions? How is each question answered?
• What are three core economic issues raised by economists to resolve the problems of economic scarcity?
• What are the three fundamental economic questions?
• Relating to economics, what is production and what are the forms of production?
• What are examples of issues affecting the economy as a whole? Which economics principles govern the situation you described?
• All economies, no matter what their form of economic organization, must address what is known as the "three fundamental questions:" What? How? For Whom? Examine each of these questions.
• In which economic system do individuals answer the basic economic questions?
• Identify and explain the three basic economic questions that must be answered by any economic system.
• In which economic system are the answers to the basic economic questions determined by custom?
• Which of the following statements does not apply to a market economy? a. Firms decide whom to hire and what to produce. b. Households decide which firms to work for and what to buy with their incomes. c. Prices act as a "visible hand" to direct economic a
• Explain the benefits of a market economy in answering the 3 basic economic questions. 1. What is to be produced? 2. How are the goods to be produced? 3. For whom are the goods produced?
• How does a market economy solve the what, how, and for whom to produce problems?
• Which of the following accurately describes the fundamental problem at the core of all economic analysis? The fundamental problem is: a. understanding how resources can be used without creating scarcity. b. finding the way in which society can eliminate s
• In modern economies, individuals in markets make most of the decisions about: a. what to produce b. how to produce c. for whom to produce d. all of these
• For each of the following, indicate whether it is more likely to be associated with a Laissez-Faire economy or a Centrally Planned economy. 1. Fundamental economic questions such as what is produced, who will receive the output, what is the price, are ans
• There are three questions, which must be addressed by any economy: What should be produced? How should they be produced, and to whom do they go? For each of the questions, provide a criticism, or praise, of how each is answered in the United States (or an
• How can the factors of production be related to the economic problem?
• Which of the following statements does NOT apply to a market economy? a. Firms decide whom to hire and what to produce. b. Households decide which firms to work for and what to buy with their incomes. c. Prices act as a "visible hand" to direct economic
• What are reasons that economic problems arise?
• Which are the biggest problems, in your opinion, that our current economic model has? How will those problems be solved in the future?
• What is economics and what are the fundamental problems in economics?
• What are the factors that determine what is produced in an economy?
• What is the production function? How is it related to economics?
• Which of the following is the most important factor affecting economic growth?
• What are the main factors of production that are known by economics?
• Pick one of the five fundamental economic questions and explain how it is answered by the market system.
• In any economic system, the question of what to make, how to make it, and who gets the final product must be addressed. In a free-market economy, who determines the answer to this question? a. buyers and sellers in the market b. those who are not in the m
• Which of the following best illustrates the importance of addressing the three questions of economics? a. People's desires and needs are always changing. b. Businesses need to use limited resources wisely. c. Traditional methods of production are outdated
• Identify the central fact of economics and explain how it relates to the economic problem.
• What are the three basic economic problems in the study of economics?
• Economic efficiency is the primary guide in answering which of the fundamental questions in a market economy? (i) What will be produced? (ii) How is the output to be produced? (iii) How can the system accommodate change? (iv) Who is to receive the output
• Which of the following explains why economic choices must be made? a. The factors of production are expensive b. The factors of production are used inefficiently c. The factors of production are of in
• How does the Production Possibilities Curve demonstrate the fundamental economic problem?
• Which part of economics focuses on the behavior of basic elements of the economy?
• A) What are the two main sectors of the economy, and how do they interact? B) What are their respective functions?
• In which economic system are the basic economic questions answered by government planners?
• What are the Supply Factors that affect economic growth?
• What are some economic challenges we are facing today? What policies can help solve these challenges?
• Describe a situation that may cause a market to produce an output that is less than the optimal amount. What is this economic phenomenon called? What action can the government take to correct this problem?
• What are some different "factors of production" as it relates to business and economics?
• Which of the following statements regarding the basic economic problem of scarcity is correct? a. The problem only exists in countries that are not highly industrialized. b. The problem is likely to d
• What are the three basic economic questions? How are decisions made differently in a market economy than in a planned economy?
• What is the single most important economic concept and what makes it so important?
• What are the important problems that constitute the subject matter of macroeconomics?
• Economics: What are some unsolved problems in macroeconomics?
• What are economic resources? What categories do economists use to classify them? Why are resources also called factors of production? Why are they called inputs?
• Answer the following questions: 1.What is the definition of economics? 2.Differentiate between microeconomics and macroeconomics. 3.Briefly explain factor of production.
• Identify which of the following questions is a microeconomic question. A. Can the Fed bring prosperity by cutting interest rates? B. What is the cause of unemployment? C. Will the economy of China expand faster than the U.S. economy? D. How would a tax on
• In Economics, what are the five factors of production?
• What are the major problems in developing sustainability economics? Explain.
• What is the economic system in which the government makes all decisions on the three key economic questions?
• What is the central problem of economic relations to scarcity and choice?
• What are the main assumptions on which the economic law of supply is based?
• Which of the following is a microeconomic question? a. What are the total production levels in the economy? b. How can we best encourage economic growth? c. What is the overall price level in the economy? d. What are the variables that determine the price
• What is the role of economic theory in the way economies are run today? Give some concrete examples.
• Write a 1-2 page paper, answering the following questions: Provide an example of issues affecting the economy as a whole. Which economics principles governs the situation you described?
• What is the role of economic theory in the way economies are run today? Include examples.
• Which of the following is an example of a normative economics statement? a. Scarcity is the root cause of all economic problems. b. Distribution of national products should be equal or unequal. c. China is the most populous country in the world. d. All of
• What is the basic problem with economics?
• State an economic product for which the demand rises faster than income when income grows.
• Name one thing that causes economic progress and explain how it causes economic progress.
• What are the concepts of scarcity as a source of economic problems?
• What is one way in which the problem of scarcity in economics can be managed?
• Which of these four scenarios are most important today? Your answer may include more than one scenario. Four Scenarios are: 1) Outward Shift in the demand for capital occurs in an economic boom whe
• The economic question of what will be produced is: a. primarily answered by markets in a command economy. b. faced by all economies regardless of their wealth. c. cannot be illustrated by the economic concept of the production possibilities frontier.
• List any two factors of production in business economics.
• Economic systems differ from one another based on who own the factors of production and A. how much resources are available in the economy and where they are located. B. who make decisions regarding what to produce and how it is produced. C. what kinds of
• Economic systems differ from one another based on who owns the factors of production and A. how much resources are available in the economy and where they are located. B. who makes decisions regarding what to produce and how it is produced. C. what kinds
• Economics is a term used in business. What is the fundamental problem in economics?
• What kinds of difficulties might be created for policymakers who use the concept of potential output to determine appropriate policies for the economy?
• What are the factors that contribute to economic growth?
• What are the assumptions necessary to represent the production possibilities in a simple economic system?
• How are the basic economic questions answered in a command economy?
• What are the three basic economic questions? Describe how they are being applied, with the concept of opportunity cost.
• Which of the following statements describe the underlying feature in most economic problems? a) People have unlimited wants in the face of limited resources. b) There are unlimited resources. c) Our country is rich; we just don't realize it. d) People hav
• What are the basic economic concepts? Briefly explain their applications.
• Consider an economy that produces only three types of fruit: apples, oranges, and bananas. Answer the questions considering the following information.
• Which of the following is a microeconomic question: a. What is the overall price level in the economy? b. What are the variables that determine the price of a specific good? c. How can we best encourage economic growth? d. How can we reduce the unemployme
• Discuss how the two fundamentals of economics, scarcity and the economic problem may occur in everyday life. How can you overcome them?
• What economic models would be likely, if economies were not driven by scarcity?
• What is scarcity of economic resources? What are the relevant economic concepts and examples?
• What changes take place in the economy when planned spending is less than planned output?
• What are some of the larger issues that microeconomics attempts to address? How is this different than what is examined in macroeconomics?
• In economics, the questions what, how, how much, and for whom to produce are answered mainly by: A. government B. price C. enterprise D. tradition
• Which of the following is a macroeconomics question? A) What determines the unemployment rate? B) How is the production quantity of digital cameras determined? C) What factors determine the price of iPhones? D) What determines the wages and benefits of