Three Basic Decisions Must Be Made by All Economies

question 22

Multiple Choice

Three basic decisions must be made by all economies. What are they?

• A) How much will be produced; when will it be produced; who will produce it?
• B) What goods will be produced; how will goods be produced; for whom will goods be produced?
• C) What will be consumed; how will goods be consumed; for whom will goods be consumed?
• D) How will the opportunity cost principle be applied; if the law of comparative advantage will be utilized, how will it be utilized; will the production possibilities constraint apply?

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Definitions:

Civil Rights Movement

A historical struggle in the United States during the mid-20th century aimed at ending racial discrimination and gaining equal rights for African Americans.

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