Question

Select all that apply.

Why do countries develop economic systems?

a)to provide economic assistance to all citizens
b)to decide how to handle the issue of scarcity
c)to protect industry from trade
d)to help make decisions concerning what, how, and for whom things are produced
e)to prevent monopolies from taking over the market

Answer 1

b ) to decide how to handle the issue of scarcity.

d) help make decisions concerning what, how, and for whom things are produced.

e)to prevent monopolies from taking over the market.

Explanation:

• Any Country develop its economic system to handle the issue of scarcity i.e lack of resources. To achieve this end to ensure economic strength handling issue of scarcity of citizens is important.

• Economy also concentrates goods and products how, what and who will produce things in the market.

• It also prevent other markets to taking over control of the country's economy.

Answer 2

To help make decisions concerning what, how, and for whom things are produced(d)

to prevent monopolies from taking over the market(e)

To decide how to handle the issue of scarcity(b)

Explanation:

• As per modern era keeps its footsteps forward the scarcity of products increases
• For which industrialisation also increases.
• So the requirements for change in economical systems also increases