Question

Which of the following BEST identifies how the three basic economic
questions are answered in the United States?
A. through a system in which individuals exchange goods
directly with each other
B. through the combined effect of the decisions of individuals
in the marketplace
C. through decisions made by small groups, based on habit,
custom, or ritual
D. through the planning of government officials who manage
the economy

Answer 1

The three basic economic questions of the United States are answered through the decisions of individuals in the market (option B)

What is the economy?

The economy is a term that refers to the system that includes:

• Production
• Distribution
• Commerce

On the other hand, this is complemented by the consumption of goods and services. In general, the economy is related to a social field in which the material practices associated with the production, use and management of resources are studied.

Based on the above, it can be inferred that the US economy answers the three basic questions about the economy by taking into account the interaction between individuals in a market system. (option B)

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