What Are the Three Basic Economic Questions Each Society Must

question 213

Multiple Choice

What are the three basic economic questions each society must answer?

• A) What to produce? How to produce? For whom to produce?
• B) How much to produce? What quality to produce? What price to sell at?
• C) What to produce? How much to produce? How to consume?
• D) How much goes to the government? How much goes to consumers? How much is exported?

Understand the influence of the Jonah complex on self-actualization.

Understand the core concepts of Maslow's hierarchical theory of needs and the categorization of those needs.

Recognize the differences between intrinsic and extrinsic motivations and how these concepts apply within self-actualization and self-determination theories.

Identify the criticisms and methodological issues related to Maslow's theories and research methodologies.

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Definitions:

Social Benefits Tribunal

A judicial body that adjudicates disputes related to the provision and denial of social assistance programs and benefits.

Fourth Industrial Revolution

The ongoing automation of traditional manufacturing and industrial practices, using modern smart technology.

Industry 2.0

Refers to the second industrial revolution, marked by the growth of mechanized production and the expansion of railroads and telecommunications.

Combined Technology

The integration and utilization of multiple technological systems or devices to enhance efficiency or achieve new capabilities.