Three Basic Decisions Must Be Made by All Economies

question 144

Multiple Choice

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

• A) how much will be produced, when it will be produced, and how much it will cost
• B) what the price of each good will be, who will produce each good, and who will consume each good
• C) what will be produced, how goods will be produced, and for whom goods will be produced
• D) how the opportunity cost principle will be applied, if and how the law of comparative advantage will be utilized, and whether the production possibilities constraint will apply

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Definitions:

Thyroid Gland

A butterfly-shaped gland in the neck that produces hormones regulating metabolism, body energy, and nervous system activity.

Artificial Passive

Artificial passive immunity refers to the process of providing an organism with external antibodies, through methods such as inoculation, to confer temporary protection against infections.

Snakebites

Injuries caused by the bite of a snake, which can inject venom and lead to various health complications.

Humoral Immune Response

The aspect of immunity that involves the production of antibodies by B cells to target and eliminate extracellular pathogens.