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Because of the Scarcity of Resources,every Country Must Answer the Three

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Short Answer

Because of the scarcity of resources,every country must answer the three basic economic questions: _________________;____________________;and ________________.


Definitions:

Futures Contract

A forward contract with the feature that gains and losses are realized each day rather than only on the settlement date.

Forward Contract

A legally binding agreement between two parties calling for the sale of an asset or product in the future at a price agreed upon today.

Strike Price

The set price at which the holder of a financial instrument can buy or sell the underlying asset in options trading.

Call Option

A financial contract giving the buyer the right, but not the obligation, to buy an asset at a specified price within a particular time period.

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