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Questions and Answers
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: 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 (A)
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: The five fundamental economic questions include what to produce, how to produce, when to produce, where to produce, and for whom to produce?
True (A)
True or false: Changes in technology do not affect the choices of what to produce in an economy?
True or false: Changes in technology do not affect the choices of what to produce in an economy?
False (B)
True or false: Technology does not have any impact on job opportunities in different sectors?
True or false: Technology does not have any impact on job opportunities in different sectors?
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True or false: The demand for goods and services determines who earns higher wages in a particular profession?
True or false: The demand for goods and services determines who earns higher wages in a particular profession?
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