What are key economic questions every society must answer?
Select all that apply.
A). How will goods and services be produced?
B). Who should receive the goods and services produced?
C). What goods and services will be produced?
D). When should goods and services be produced?
E). Where will the goods and services be produced?
A) How will goods and services be produced?
C) What goods and services will be produced?
E) Where will the goods and services be produced?
Well, it's always important to know how we'll make stuff, what stuff we'll make, and where the magic happens. As for when goods and services should be produced, I say right meow! And who should receive them? Preferably, everyone who has a valid ticket to the International Snack Party!
The key economic questions every society must answer are:
A). How will goods and services be produced?
This question refers to the methods and techniques of production. It involves decisions such as the use of labor, machinery, and technology in the production process.
B). Who should receive the goods and services produced?
This question relates to the distribution of goods and services and involves determining who gets access to and benefits from the output of the economy. It pertains to issues of income distribution and resource allocation.
C). What goods and services will be produced?
This question involves deciding what types of goods and services are produced based on the needs and wants of society. It relates to the allocation of resources and the determination of wants and priorities.
E). Where will the goods and services be produced?
This question pertains to the geographic location and distribution of production. It involves decisions such as determining the location of factories, farms, and industries.
Therefore, the correct answers are A), B), C), and E). The question D) ("When should goods and services be produced?") is not one of the key economic questions.
The key economic questions that every society must answer include:
A). How will goods and services be produced?
B). Who should receive the goods and services produced?
C). What goods and services will be produced?
E). Where will the goods and services be produced?
Therefore, the correct options are A, B, C, and E.