Which of the Following Correctly Lists the Three Fundamental Economic

question 93

Multiple Choice

Which of the following correctly lists the three fundamental economic questions?

• A) If to produce? Why to produce? When to produce?
• B) If to produce? What to produce? How to produce?
• C) Why to produce? What to produce? How to produce?
• D) What to produce? How to produce? For whom to produce?

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Definitions:

Productive Potential

The maximum output a person or entity can produce with the available resources without sacrificing quality.

Socially Determined

Characteristics or behaviors that are shaped by societal influences rather than individual choices or biological predispositions.

Prescription

A prescription is a formal instruction written by a licensed medical professional that authorizes a patient to be provided a medicine or treatment.

Expectations

The beliefs or forecasts about future events, which may influence individuals' decisions and behaviors in various contexts.