Three Basic Economics Questions
What to produce?
How to produce it?
??
Question
What is the third Basic Economics Question?
(1 point)
Responses
How much to produce?
How much to produce?
For whom to produce?
For whom to produce?
Where to produce?
Where to produce?
What natural resources are used to produce?
How much to produce?
Which of the following economic actions demonstrates a negative incentive?
An employee is fired.
An item is put on sale.
The costs of production decrease.
The board of a company invests more.
An employee is fired.
Which government action would interfere with free trade?
increasing taxes on domestic producers
charging duty taxes on foreign goods
adding a value-added tax to consumer goods
giving contracts to factories in other countries