Introduction to Economics Answers

The three questions of economics are based on decisions made by economies.What statement best describes why economies must make these decisions?

Economies must make these decisions because resources are unlimited, but production must be limited.

Economies must make these decisions because resources are limited.

Economies must make these decisions because consumers cannot make decisions on their own.

Economies must make these decisions to prevent producers from over-producing.

Economies must answer the three economic questions because resources are.

abundant

limited

common

If an economy does not answer the three economic questions, resources may.

run out

be recreated

become too cheap

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