Answer:
- Land, labor, and capital also are known as factors of Production
- Economies must answer the three economic questions because resources are Limited
- If an economy does not answer the three economic questions, resources may Run out
- Negative consequences can result when an economy does not answer the three economic questions.
Explanation:
The three basic economics question that must be answered are:
- What goods and services will be produced?
- How will the goods and service will be produced?
- Who will consume the goods and services?
Every society must answer these three question in order to meet the needs of its people. Every society answer these 3 basic questions differently, but each encounters the same fundamental problems, that are resourcea allocation and scarcity.
The Stock Market crashed <span>in America on October of 1929.</span>
Answer:
In 1993, Al Qaeda carried out a bombing of the Twin Towers.
The effects of the Black Death were many and varied. Trade suffered for a time, and wars were temporarily abandoned. Many labourers died, which devastated families through lost means of survival and caused personal suffering; landowners who used labourers as tenant farmers were also affected.
