An economic system answers the ________, ________, and _________ questions.
A) when to produce, where to produce, why we should produce
B) wealth, greed, power
C) money, markets, the business cycle
D) what to produce, how to produce, for whom to produce

Question

An economic system answers the ________, ________, and _________ questions.
A) ​when to produce, where to produce, why we should produce
B) ​wealth, greed, power
C) ​money, markets, the business cycle
D) ​what to produce, how to produce, for whom to produce

Quizplus · Accepted Answer

The three main questions that an economic system answers are what to produce, how to produce, and for whom to produce. Choice A is incorrect because it focuses on the timing, location and purpose of production rather than the basic questions of an economic system. Choice B is also incorrect because it lists three concepts that are not directly related to economic systems. Choice C mentions important components of an economic system, but not the fundamental questions that an economic system must answer.

An Economic System Answers the ________, ________, and _________ Questions

An Economic System Answers the , , and _ Questions