Question 6 (1 point) Economics is the study of choices people make in an effort to satisfy their wants and needs given scarcity. True O False Question 7 (1 point) Monopolies are great for consumers because

Question 6 (1 point)

Economics is the study of choices people make in an effort to satisfy their wants and needs given scarcity.
True
O False
Question 7 (1 point)
Monopolies are great for consumers because the selling price will always be low.
True
False
Question 8 (1 point)
The 3 basic questions that all economies must answer are (1) what should be produced (2) how should it be produced and (3) for whom should
it be produced
True
False

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