What Are the Three Fundamental Questions in Economics

question 37

Multiple Choice

What are the three fundamental questions in economics?

• A)What to produce,how to produce it,and for whom is it produced.
• B)Is it necessary,is it right,and is it valuable.
• C)Who should produce,what is the right way to produce,and how should we decide.
• D)What to produce,how to produce it,and who should produce it.

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Definitions:

Orderly Plan of Disposition

An orderly plan of disposition refers to a strategically organized method for selling off a business's assets, often used in liquidation scenarios.

Express Trusts

Express Trusts are trusts created intentionally by the settlor, typically through a written document, specifying how assets placed into the trust should be managed and distributed.

Inter Vivos Trust

A trust created during the lifetime of the grantor, allowing the grantor to transfer assets before death for the benefit of future beneficiaries.

Duress

Coercing someone into acting against their will by using force, threats, or pressure.