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Aloiza [94]
3 years ago
6

Use the drop-down menus to complete each sentence.

History
1 answer:
irga5000 [103]3 years ago
3 0

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.

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