The economic questions about what and how to produce in a...
The economic questions about what and how to produce in an economy is solely answered by the _______?
Government
labour union
Private and public enterprises
System of economy practised
Correct answer is D
Every society answers the three basic economic questions differently, in doing so, each confronts the same fundamental problems: resources allocation and scarcity. For every society, the answer to the three basic questions depend on what kind of economic system it uses. The term economic system refers to the way in which a society organize the production and distribution of goods and services.
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Natural growth rate of population can be defined as the ...
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Let capital formation = CF, Production = P, C = consumption. Then CF =_______ ...