Three of the four following questions are indicative of the three fundamental economic questions. Leaving out the irrelevant question, rearrange the three relevant questions in the order an economy must answer them.
- Should electricity be produced from oil, solar, or nuclear power?
- Should corn be produced in the North or in the South?
- Who drives a Mercedes?
- Should more hybrid cars and fewer SUVs be produced?
A) 1. Should more hybrid cars and fewer SUVs be produced? 2. Should corn be produced in the North or in the South? 3. Should electricity be produced from oil, solar, or nuclear power?
B) 1. Who drives a Mercedes? 2. Should more hybrid cars and fewer SUVs be produced? 3. Should corn be produced in the North or in the South?
C) 1. Should more hybrid cars and fewer SUVs be produced? 2. Should electricity be produced from oil, solar, or nuclear power? 3. Who drives a Mercedes?
D) 1. Should electricity be produced from oil, solar, or nuclear power? 2. Should more hybrid cars and fewer SUVs be produced? 3. Should corn be produced in the North or in the South?
Correct Answer:
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