Economic Questions & Goals

An economic goal that most economic systems either struggle to establish or not allow is

A state government chooses to produce potatoes. This is an example of...

In this Econ System, government MIGHT get involved in order to protect its citizens.

Factors that may influence how the 3 Key Economic Questions include all of these, except

Government, alone, makes all Key Economic Decisions.

"To what goods/services should we devote our limited resources?" is a description of 

Growth and Innovation is encouraged in almost all economic systems because it can

Most economic systems try to address economic goals that include which of the following

This economic system usually exists in very "close-knit" communities that work together closely

Another name for Centrally Planned Economic System

An Entrepreneur...

A Production Possibilities Curve is able to display

Government and individuals play a role in answering the 3 Key Economic Questions.

When making an economic decision, the most desirable option that you do not choose is your

This economic system relies on custom and/ritual to answer the 3 Key Economic Questions.

The Key Economic Question that deals with "Who gets to buy what?" and income distribution is

The method used by a society to produce and distribute goods and services is the society's

A clear example of unequal factor payments for resources provided would be

Deciding whether to use more or less of a resource, or to produce more of less of a product.

In this economic system, just individuals answer the 3 Key Questions based on exchange & trade

A state decides to make their potatoes available everywhere BUT Delaware;  An Example of

The state decides to use both human labor and tractors to farm potatoes . This is an example of

Land, Labor, and Capital are the

Deciding what resources will be used to produce, including workers and capital, describes...

The Fundamental (Basic) Economic Problem is

Security and Predictability is a common economic goal, because

It's important to remember that, due to scarcity, every economic production decision comes at