Three Economic Questions Must Be Determined in All Societies

question 19

Multiple Choice

Three economic questions must be determined in all societies. What are they?

• A)How much will be produced? When will it be produced? How much will it cost?
• B)What the price of each good will be? Who will produce each good? Who will consume each good?
• C)What is the opportunity cost of production? Does the society have a comparative advantage in production? Will consumers desire the goods being produced?
• D)What goods will be produced? How will goods be produced? Who will get the goods produced?
• E)Who needs the goods the most? Who will produce the goods? How will goods be produced?

---

Definitions:

Investment

The procedure or operation of assigning financial assets with the intention of achieving a revenue or profit.

Investment

The action or process of investing money for profit or material result.

New Capital

Funds or assets invested in a company or economy to generate growth and new business opportunities.

Capital Investment

Funds invested in a firm or enterprise for the purposes of furthering its business objectives, including the purchase of physical equipments, property, or technology.