A country decides to produce wool. Which of the following key economic questions does this decision address?
Question 1 options:
What should be produced?
How should it be produced?
Who will be the consumers?
Who will market the products?
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Question 2 (2 points) Question 2 Unsaved
Which of the economic goals correlates with the explanation "the ability of people to make choices"?
Question 2 options:
equity
innovation
efficiency
freedom
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Question 3 (2 points) Question 3 Unsaved
Which of the economic goals correlates with the explanation "decisions about how much workers should receive in income"?
Question 3 options:
security
equity
efficiency
innovation
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Question 4 (2 points) Question 4 Unsaved
What is the main reason countries must carefully decide how they will produce the items they need?
Question 4 options:
Taxes must be paid to the United Nations.
Workers must be paid fairly
Resources are scarce.
Unions will riot.
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Question 5 (2 points) Question 5 Unsaved
The location of resources around the world greatly influences which of the following?
Question 5 options:
The prices of those resources that are exported to other countries.
The prices of products that are made from those resources that are located in limited areas around the world.
The types of products that some countries can produce.
all of the above
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