The Three Fundamental Questions That Any Economy Must Address Are

question 131

Multiple Choice

The three fundamental questions that any economy must address are:

• A)What will be the prices of goods and services; how will these goods and services be produced; and who will receive them?
• B)What goods and services will be produced; how will these goods and services be produced; and who receives them?
• C)Who gets jobs; what wages do workers earn; and who owns what property?
• D)How much will be saved; what will be produced; and how can these goods and services be fairly distributed?

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Definitions:

Endocrine System

A network of glands in the body that secrete hormones directly into the circulatory system to regulate bodily functions.

Puberty

The period in which an individual becomes capable of sexual reproduction, marked by hormonal changes and physical development.

Gonads

The sex glands in animals and humans (ovaries in females and testes in males) that produce sex cells and hormones.

Polygenic

Pertaining to a trait or characteristic that is influenced by several genes rather than a single gene.