QUESTION IMAGE
Question
answering the three economic questions
use the drop - down menus to complete each sentence.
land, labor, and capital also are known as factors of production.
economies must answer the three economic questions because resources are
if an economy does not answer the three economic questions, resources may
consequences can result when an economy does not
options for the blank (where resources are...):
abundant
limited
common
The three economic questions arise because resources are scarce (limited), meaning they are not available in unlimited quantities to satisfy all wants. This scarcity forces economies to decide how to allocate resources efficiently.
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