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
