Practice The Three Basic Economic Questions (4)

Practise this section

8 questions

Flashcard drill
2 cards from this section. Quick, good the night before a test.
Exercise
6 questions · about 4 min · pass mark 70%. Hints available.
Sign up to start the exercise
Quiz
2 questions · about 1 min · pass mark 70%. Hints available.
Sign up to start the quiz

6 sample questions

Question 1.
What is one reason why societies must decide what to produce?
Show hintHide hint
Think about scarcity.
Question 2.
Which question addresses the methods of production?
Show hintHide hint
Recall the second question.
3Question 3.
Which of the following is not one of the three basic economic questions?
- What to produce?
- How to produce?
- When to produce?
Show hintHide hint
Remember the three questions discussed.
4Question 4.
True or False: Scarcity necessitates that societies must always make choices.
- True
- False
Show hintHide hint
Think about the condition of our resources.
Question 5.
Analyze how an economic recession might impact the three basic economic questions for a country.
Show hintHide hint
Think about economic urgencies.
Question 6.
Discuss how globalization could change the approach to the 'What to produce?' question in a developing economy.
Show hintHide hint
Consider international trade influences.

4 more questions in this section. Enroll free to practise them all.