Which of the following is NOT a question answered by economics as described in the text? A) What goods and services do people demand? B) Who gets the goods and services produced? C... Which of the following is NOT a question answered by economics as described in the text? A) What goods and services do people demand? B) Who gets the goods and services produced? C) What is the best way to allocate scarce resources? D) How do firms produce goods and services?
Understand the Problem
The question is asking us to identify which option does not align with the fundamental questions typically addressed in the field of economics. This involves understanding the key areas of focus within economic study.
Answer
How do firms produce goods and services?
The final answer is D) How do firms produce goods and services?
Answer for screen readers
The final answer is D) How do firms produce goods and services?
More Information
Economics typically focuses on what goods and services are demanded, who gets them, and how to allocate scarce resources. The question of how firms produce goods is generally more related to business studies or industrial management rather than core economic principles.
Tips
A common mistake is confusing the scope of economics with other disciplines like business studies. While economics does consider production, it is more concerned with allocation, distribution, and demand.
Sources
- Economy: What It Is, Types of Economies, Economic Indicators - investopedia.com
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