What three economic questions are asked when studying the similarities of traditional, command, market, and mixed economies among nations of the world?

O What to produce, why to produce, when to produce?

O What is your opportunity cost, what economic resources are needed, why should these resources be used?

O What to produce, how to produce, and for whom to produce?

Question

19-12-2022
Business

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What three economic questions are asked when studying the similarities of traditional, command, market, and mixed economies among nations of the world?

O What to produce, why to produce, when to produce?

O What is your opportunity cost, what economic resources are needed, why should these resources be used?

O What to produce, how to produce, and for whom to produce?

Answer :

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tutorconsortium634 tutorconsortium634 · Answer 1 · 2022-12-25T08:19:21-05:00

The three economic questions include: What to produce, why to produce, when to produce? What are the opportunity costs, the economic resources required, and reasons for using these resources?

What are the factors necessary for economic growth?

There are three main factors driving economic growth: Accumulation of share capital. Increased labor input such as workers or working Hours. Advances in technology. Land (including natural resources), In addition, all these factors, especially manufacturing, use inputs to the process, also known as production factors.

What are the three questions the economic system must ask itself?

An economic system is a system that allocates scarce resources. The economic system answers three basic questions: What is produced, how is it produced, and how is the output produced by society distributed?

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