Question

Mics SEM (Mrs. Pertler)

Instruction Active
Answering the Three Economic Questions
Use the drop-down menus to complete each sentence.
Land, labor, and capital also are known as factors of
Economies must answer the three economic questions because resources are
If an economy does not answer the three economic questions, resources may
consequences can result when an economy does not answer the three economic questions.

Answer 1

production
limited
run out
negative

Step-by-step explanation:

picture

Answer 2

Land, labor, and capital also are known as factors of Production

What is Factor of Production?

Factors of production are the resources that serve as the foundation of the economy; they are what people use to create goods and services.

Economies must answer the three economic questions because resources are Limited

If an economy does not answer the three economic questions, resources may Run out

Negative consequences can result when an economy does not answer the three economic questions.