Economic Questions and Systems Quiz

True or false: Economic systems refer to a set of economic institutions that dominate a given economy with the main objective of solving the basic economic problems?

True or false: The five fundamental economic questions include what to produce, how to produce, when to produce, where to produce, and for whom to produce?

True or false: Changes in technology do not affect the choices of what to produce in an economy?

True or false: Technology does not have any impact on job opportunities in different sectors?

True or false: The demand for goods and services determines who earns higher wages in a particular profession?