The answer to Canada’s 3 economic questions of (1) what to produce (2) how to produce and (3) for whom to produce is decided by which 2 of the following groups? Select yes or no. (1 point)
Yes No
parliament
Yes – parliament
No – parliament
individuals
Yes – individuals
No – individuals
government officials
Yes – government officials
No – government officials
corporations
Yes – corporations
No – corporations
Yes – government officials
Yes – corporations
Yes - parliament, government officials
The answer to Canada's three economic questions (what to produce, how to produce, and for whom to produce) is decided by two of the following groups: parliament, individuals, government officials, and corporations.
The correct answer is: Yes - parliament and Yes - individuals.
Parliament plays a crucial role in decision-making concerning the economy in Canada. It is responsible for making laws and regulations related to economic activities, such as setting policies and guidelines for production and distribution.
Individuals also have a significant influence on the economy. Through their choices, preferences, and purchasing power, individuals shape the demand for goods and services, thereby influencing what is produced, how it is produced, and who benefits from it.
Government officials, such as the executive branch and various departments, also play a role in the economic decision-making process. They formulate economic policies, implement regulations, and provide oversight to ensure fairness and efficiency in the economy.
Corporations, as private entities, also have a say in the economy. They make decisions on what products or services to produce, how to produce them, and who their target market is. However, their influence is more limited compared to parliament and individuals.
So, in summary, the two groups that decide Canada's economic questions are parliament and individuals.