Question

Which are fundamental principles of economics?

(Select all that apply.)

How will it be taxed?
How will it be produced?
How will it be defended?
How will it be distributed?

Answer 1

The fundamental principles of economics are concerned with how resources are allocated and decisions are made in a society. The principles include:

- How will it be produced?

- How will it be distributed?

Fundamental Principle of Economics

The fundamental principle of economics is the study of how individuals, businesses, and societies make choices to allocate scarce resources to satisfy their unlimited wants and needs.

These two principles focus on the production and distribution of goods and services in an economy. They address questions such as how goods and services are produced efficiently and how they are allocated among individuals or groups.

The other two options, "How will it be taxed?" and "How will it be defended?" are not fundamental principles of economics. Taxation and defense are important aspects of economic systems, but they are not considered fundamental principles that guide economic decision-making and resource allocation.

Answer 2

How will it be distributed?

Step-by-step explanation:

The fundamental principle of Economics is how will it be distributed? Economics is the study of production consumption and transfer of goods and services. There are two types of economics- Microeconomics and Macroeconomics.

The distribution of wealth in the market is the main fundamental principle of the Economics. How income is distributed in the market and how the goods and services are produced to keep the demand and supply in check.