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NAME DATE CLASS Guided Reading Activity Economic Systems Lesson 2 Our Economic Choices Review Questions Directions: Complete the statements or answer the questions that follow. Refer to your textbook.

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Guided reading activity economic systems lesson 2 our economic choices Questions & Answers

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The Three Key Economic Question are: What goods and services should be produced? How should these goods and services be produced? Who consumes these goods and services?

Due to the basic economic problem, three questions arise. These are What, How and for whom. Any given society/country must decide how it will answer these questions. In other words, any given society must choose an economic system/market system, or rather the right mix of these.

Students will read and take notes on the three main questions of economics. These are what to produce, how to produce it, and who to produce it for.

In its purest form, a market economy answers the three economic questions by allocating resources and goods through markets, where prices are generated.

Because of scarcity every society or economic system must answer these three (3) basic questions: What to produce? ➢ What should be produced in a world with limited resources? ... How to produce? ➢ What resources should be used? ... Who consumes what is produced? ➢ Who acquires the product?

Three basic questions must be answered: a) What goods and services must be produced? b) How will these goods and services be produced? c) Who uses the goods and services that are produced?

Students will read and take notes on the three main questions of economics. These are what to produce, how to produce it, and who to produce it for.

Chapter 2: The Economic Systems Section 1: Introduction to Economic Systems (pgs. 38-41) There is no such thing as a Utopia, every society must face scarcity and answer the three questions: What should be produced?, How should it be produced?, & For whom will it be produced?

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232