The Two Big Economic Questions

question 67

Multiple Choice

The two big economic questions

• A)summarize the scope of economics.
• B)are "what goods and services are produced?" and "how are goods and services produced?"
• C)have nothing to do with goods and services.
• D)do not consider for whom goods and services are produced.
• E)have nothing to do with the way goods and services are produced.

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Definitions:

Competency

The ability to do something successfully or efficiently.

Policy-Making Councils

Groups or bodies that are responsible for the development and formulation of guidelines, rules, or regulations.

Elected Members

Individuals who have been chosen or voted into a particular position or office by a group or electorate.

Stewart's Model

A framework for understanding the roles and behaviors of managers in organizations, often focusing on the demands, constraints, and choices managers face.