Which Is One of the Five Fundamental Questions That Need

question 194

Multiple Choice

Which is one of the five fundamental questions that need to be dealt with in any economic system?

• A)What makes the rate of unemployment low?
• B)Who will be the richest group in the economy?
• C)How will goods and services be produced?
• D)How high should the prices of goods and services be?

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Definitions:

Reasoning

The process of thinking about something in a logical way in order to form a conclusion or judgment.

Cognition

The cognitive activity of gaining knowledge and comprehension via thinking, experiencing, and sensory input.

Concepts

Mental categories that group objects, events, or ideas based on shared properties or characteristics.

Classes

Categories or groups of things or people with shared characteristics or purposes, often used in the context of education or social status.