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[DOC File]Three Key Economic Questions and Three Types of Economies
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How do societies decide who gets what ?Every society is faced with three economic questions: What goods and services should be produced? How should they be produced? Who should get what is …
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[DOC File]Chapter 3 - Economic Systems
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They answer the 3 key economic questions of what to produce, how to produce it, and who consumes that which is produced. Advantages(pg 32): 1. Economic efficiency 2. Economic freedom 3. Economic growth 4. Offer a wider variety of goods and services than any other system, because producers have incentives to meet consumers’ desires. Consumers ...
what are the three key economic questions

Three Basic Economic Questions - Business Economics for Entrepre…
Unit 1 Lesson 3 Three Key Economic Questions and Three Types of Economies. Question 1: _____? How much of our resources should we devote to national defense, public health, and welfare or consumer goods: guns vs. butter.
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[DOC File]ANSWER KEY
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Define and explain economic interdependence. What are some characteristics of a command economy? Why can it be said that the U.S. has a mixed economy? In a market, command and traditional economy, how are the Three Questions answered? What are the four roles of government in an economy, and examples of each (2.3).
what are the 3 basic economic questions

[DOC File]Chapter 3 Economic Systems
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Locate information about how each economic system answers the 3 basic economic questions: TRADTIONAL. SYSTEM COMMAND. SYSTEM MARKET . SYSTEM WHAT TO PRODUCE? By custom – whatever. was produced in the past The government decides what should be produced. The government owns most of the means of production. Consumer choices dictate the success of
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[DOC File]Study guide for Economics Unit I test
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Chapter 3 - Economic Systems Totaro Name: _____ Today's Objectives - FUNDAMENTAL QUESTIONS OF ECONOMIC SYSTEMS. What are the 5 Fundamental Questions of Economic Systems and why is each so important?
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What are the 3 economic questions