Item 4 How are countries’ economies similar, even if they have access to different resources and are in different locations? The

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Item 4 How are countries’ economies similar, even if they have access to different resources and are in different locations? The

y all use the same method or share the same beliefs when making decisions about what to manufacture. They all must achieve a certain ratio of goods produced compared to goods purchased to make their economies work. They all must produce a certain number of different products to have a successful economy. They all must answer the questions of what to produce and how to produce it based on the resources they have.

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1 answer:

Norma-Jean [14] · Answer 1 · 2023-01-08T09:39:34+03:00

Countries’ economies are similar because they all must answer the questions of what to produce and how to produce it based on the resources they have.

<h3>How to determine what to produce?</h3>

The question of what to produce is a general question in all countries, because what is produced will in turn determine what is sold out.

Each country must identify their key resources and produce goods and services based on the available resources this will give them a edge when it comes to sale.

Therefore, Countries’ economies are similar because they all must answer the questions of what to produce and how to produce it based on the resources they have.

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