The Three Fundamental Economic Questions of What, How, and for Whom

question 4

Multiple Choice

The three fundamental economic questions of what, how, and for whom:

• A) exist because of scarcity.
• B) are much more serious in a socialist system.
• C) are not serious in a capitalistic system.
• D) are not relevant in the industrialized world of today.

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Definitions:

Genetic Drift

A mechanism of evolution that causes random fluctuations in the frequency of alleles in a population, especially in small populations.

Mutation

A permanent alteration in the DNA sequence that makes up a gene, which can result in a change in the phenotype of an organism.

Reproductive Isolating Mechanisms

Reproductive isolating mechanisms are biological features of organisms that prevent species from interbreeding, thereby maintaining species separateness.

Interbreeding

The mating or crossing of two individuals from different populations, species, or varieties, leading to the production of offspring.