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Technical Writing for Success3rd EditionDarlene Smith-Worthington, Sue Jefferson 468 solutions Edge Reading, Writing and Language: Level CDavid W. Moore, Deborah Short, Michael W. Smith 304 solutions B. Reviewing Key Terms: Complete each sentence by writing the correct term in the blank.6. An economic system that relies on habit, custom, or ritual to decide questions of production and consumption of goods and services is a Get answer to your question and much more 7. An encyclopedia entry illustrating how a hunter-gatherer group collects and shares food resources is describing that society’s Get answer to your question and much more 8. When voluntary exchanges in the markets determine decisions on production and consumption, the society’s economic system is a Get answer to your question and much more 9. When people earn income for supplying land, labor, capital, or entrepreneurship, they receive Get answer to your question and much more 10. An economic system in which the central government makes all decisions on production and consumption of goods and services is a Get answer to your question and much more CoulterMulvihill 84% found this document useful (19 votes) 32K views 7 pages © © All Rights Reserved PDF, TXT or read online from Scribd Did you find this document useful?84% found this document useful (19 votes) 32K views7 pages Section 1 Guided ReviewUploaded byCoulterMulvihill Jump to Page You are on page 1of 7 You're Reading a Free Preview Reward Your CuriosityEverything you want to read. Anytime. Anywhere. Any device. No Commitment. Cancel anytime. What are the three questions Economics answers?An economic system is any system of allocating scarce resources. Economic systems answer three basic questions: what will be produced, how will it be produced, and how will the output society produces be distributed?
What are the 3 economic questions that must be answered quizlet?What are the three economic questions every society must answer? What goods and services should be produced? How should they be made? Who consumes these goods and services?
Who answers the 3 basic economic questions in a mixed economy?A nation—or, more directly, its leaders--must address the three basic economic questions: what to produce, how to produce, and for whom to produce.
What economic question is answered by social values and goals?economic question answered by basic social values and goals? who consumes which goods and services? traditional, market, centrally planned and mixed. what needs and wants are hard to answer?
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Section 1 Guided Reading and Review Answering the three economic questions
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