The Three Essential Questions That Every Economy Must Solve Are

question 126

Multiple Choice

The three essential questions that every economy must solve are

• A)what, how many, and for whom?
• B)how, what, and where?
• C)what, how, and for whom?
• D)what, how much, and for whom?
• E)where, how, and for whom?

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Definitions:

Cash Receipts Report

A financial document summarizing all cash inflows, or money received, by a business during a specified period.

QuickBooks

A popular accounting software package designed for small and medium-sized businesses to manage income and expenses and keep track of their financial health.

Total Revenue

The full amount of income generated by the sale of goods or services before any expenses are deducted.

Manual System

An information processing system that utilizes physical means such as pen and paper rather than computerized methods.