List the Three Coordination Decisions Made by Every Economy

question 39

Multiple Choice

List the three coordination decisions made by every economy.

• A)Where? When? How?
• B)How? What? To whom?
• C)Why? Where? What?
• D)When? To Whom? Where?

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Definitions:

Formal Relations

Social connections and interactions that are governed by officially established rules and structures.

Informal Relations

Interactions and connections between individuals or groups that are not governed by formal rules, structures, or procedures, often based on personal or community ties.

Keynesian Economics

An economic theory proposed by John Maynard Keynes, suggesting that government intervention through public policies can influence macroeconomic productivity and stabilize economies.

Neoliberalism

An ideology and policy model emphasizing free-market capitalism, deregulation, and reduction in government spending.