What Are the Three Fundamental Questions That Any Economy Must

question 5

Multiple Choice

What are the three fundamental questions that any economy must address?

• 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:

Political Science

The academic discipline that studies governments, public policies, political processes, political behavior, and ideas about governance.

Liberal

In politics, a viewpoint or ideology favoring policies that emphasize individual freedoms, social justice, and the need for government intervention to achieve these goals.

Moderate

Neither extreme nor excessive, often referring to views, conditions, or amounts that are reasonable or average.

Conservative

In politics, it refers to someone favoring traditional views and values, tending to oppose change. In other contexts, it can also mean cautious or restrained.