Which of the Following Is a Basic Question by an Economic

question 103

Multiple Choice

Which of the following is a basic question by an economic system?

• A) for whom goods and services are produced.
• B) how goods and services are produced.
• C) what goods and services are produced.
• D) all of the above.

---

Definitions:

Monetary System

A structured system for creating, managing, and distributing money in an economy.

Barter Economy

An economic system in which goods and services are exchanged directly for other goods and services without the use of money.

Efficient Price

A market condition where prices reflect all available information and resources are allocated to their most valuable use.

Efficient Quantity

The level of output where the marginal benefit to consumers equals the marginal cost of producing an additional unit, leading to optimal resource allocation.