Which of the following is not one of the basic economic questions? a. what will be produced b. how will it be produced c. where would it be produced d. for whom will it be produced

c. where would it be produced More test answers on https://studyhippo.com/microeconomics-3/

What 3 basic economic questions must a nation answer that defines their economy?

1) What goods and services should be produced? 2) How should the goods and services be produced? 3) For whom should the goods and services be produced? More test answers on https://studyhippo.com/economic-systems-power-point/

Which of the following addresses all three of the basic economic questions?

You start your own restaurant serving Japanese food, you hire local teenagers to work at your restaurant as servers and cooks, and your restaurant specializes in serving the daily lunch crowd. More test answers on https://studyhippo.com/flvs-economics-with-financial-literacy-module-one-exam/

Basic economic questions answered by what has been done in the past

traditional economy More test answers on https://studyhippo.com/economic-systems-power-point/

Which situation best illustrates the basic economic questions? A. Your sister decides to make beaded bracelets and give them to friends. B. Your sister decides to make beaded bracelets and wear them all herself. C. Your sister hand beads the bracelets and sells them to neighbors D. Your sister goes to the store and purchases beaded bracelets from the jewelry department

C. Your sister hand beads the bracelets and sells them to neighbors More test answers on https://studyhippo.com/economics-with-finical-literacy-module-1-practice-exam/

Which situation best illustrates ALL THREE of the basic economic questions? A. You start your own shirt design company and sell your services to local businesses. B. You start your own shirt design company for fun, making shirts for your friends. C. You pay a shirt design company to make shirts for you. D. You start a shirt design company using your own equipment and serve local business

D. You start a shirt design company using your own equipment and serve local business More test answers on https://studyhippo.com/economics-with-finical-literacy-module-1-practice-exam/

The way in which an economic system answers the basic economic questions depends upon the country’s A) supply. B) government. C) demand. D) resources.

B) government. Each economic system must operate within the laws of the country. In some countries, government not only runs the country but also makes economic decisions. In other countries, government runs the country and allows the people to make their own economic decisions. Supply, demand, and resources aid in determining the answers to economic questions but only within the laws of the country. More test answers on https://studyhippo.com/snapshot-unit-review/

A system where the basic economic questions are determined, at least to some degree, through centralized government planning is referred to as a economy. 1) command 2) capitalistic 3) mixed 4) laissez-faire 5) communal

Command More test answers on https://studyhippo.com/intro-to-business-final/

Understand the five basic economic questions that are answered with agricultural marketing.

Agricultural Marketing is Arena for organizing and facilitating business activities and for answering basic economy questions. Answer What to produce, How much to produce, Who should procure it, How to produce, How to efficiently distribute production More test answers on https://studyhippo.com/aecn-225-exam-1/

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Basic Economic Questions Flashcards, test questions and answers

Q: 3 Basic Economic Questions

1. What to produce 2. How to produce 3. Who will get them Communism – Gvmt decides all. More test answers on https://studyhippo.com/civics-economics-vocabulary-2/

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