Question

Failure to address the three questions of economics will have what kind of impact on an economy?

A-It will have no consequences.
B-It will help meet citizens’ needs and wants.
C-It will have negative consequences.
D-It will help contribute to the success of the society.

Answer 1

C-It will have negative consequences.

Answer 2

Option C It will have negative consequences.

The three questions of economics;

• What to Produce? A real command economy is about the production that is defined by a primary economic authorization. The true free market production is planned by unique preferences. Nevertheless, most states befall around within an actual command economy and a truly free market and production is concluded by a blend of fundamental preparation and personal preferences.

• How to Produce? There are several methods to design a product or service of the similar essence. As a businessperson, it is necessary to possess a distinct perception of total dilemmas.

• For Whom to Produce? All goods and services are invented for notable to consume. A free market, who understands the defined by capability to produce at a rate decided by supply and demand.