Because of the problem of scarcity, each economic system must make which of the following choices?

Name: Because of the problem of scarcity, each economic system must make which of the following choices?
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Question

Quizplus · Accepted Answer

All of these choices are necessary for an economic system to make due to the problem of scarcity. The system must decide how to efficiently produce goods and services, what goods and services to produce based on consumer demand, and for whom to produce based on distribution of resources and income.

Because of the Problem of Scarcity, Each Economic System Must