In order for production to take place, the question of what is to be produced must be answered. Who will receive the goods and services? must be answered for the production to take place.
<u>Explanation:</u>
The maximum and efficient utilization of the available resources is a big challenge that is being faced by any kind of society. This is because of the scarcity present in that society. There are three questions that can be used for the purpose of solving the problem related to economy. They are:
- What type of goods and services should be produced?
- How to produce the decided goods and services?
- Who will be consuming the produced goods and services?
For example a manufacturer must decide whether he must produce some appliances for kitchen or some weapons. Then he must decide how to produce those goods. He must decide the material that he must use to produce those goods. Then he must decide to whom will he serve these goods. He must decide whether to serve these goods with people in first-come basis or based on the education level, age, etc.
The African Americans in the north during the mid 1800's were very poor. Most died from illnesses and natural causes. It was a very harsh time for them.
Answer:
B) The Case Study
Explanation:
The case study is a research method that generally uses qualitative data, collected from real events, to explain, explore or describe current phenomena inserted in their context. It is usually a way of deepening an individual unit. It serves to answer questions that the researcher does not have much control over the phenomenon studied. That's why it so risks because the researcher doesn't have control over the studied object.
Answer:
Trade can make everyone better off. Markets are usually a good way to organize economic activity. Governments can sometimes improve market outcomes. A country's standard of living depends on its ability to produce goods and services
Explanation:
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