Three basic decisions must be made by all economies. What arethey? A. how much w

Question

Three basic decisions must be made by all economies. What arethey? A.   how much will be produced, when itwill be produced, and how much it will cost B.   what the price of each good will be,who will produce each good, and who will consume each good C.   what will be produced, how goods willbe produced, and for whom goods will be produced D.   how the opportunity cost principlewill be applied, if and how the law of comparative advantage willbe utilized, and whether the production possibilities constraintwill apply Three basic decisions must be made by all economies. What arethey? A.   how much will be produced, when itwill be produced, and how much it will cost B.   what the price of each good will be,who will produce each good, and who will consume each good C.   what will be produced, how goods willbe produced, and for whom goods will be produced D.   how the opportunity cost principlewill be applied, if and how the law of comparative advantage willbe utilized, and whether the production possibilities constraintwill apply A.   how much will be produced, when itwill be produced, and how much it will cost B.   what the price of each good will be,who will produce each good, and who will consume each good C.   what will be produced, how goods willbe produced, and for whom goods will be produced D.   how the opportunity cost principlewill be applied, if and how the law of comparative advantage willbe utilized, and whether the production possibilities constraintwill apply

Explanation / Answer

I had this same exact question on my old exam. The answer isC even though I don't remember why.

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