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What are the three main questions of economics addresses who should?

Economists address these three questions: (1) What goods and services should be produced to meet consumer needs? (2) How should they be produced, and who should produce them? (3) Who should receive goods and services? The answers to these questions depend on a country's economic system.

What are the three critical questions that every society must answer as it seeks to meet its economic goals?

In order to meet the needs of its people, every society must answer three basic economic questions: What should we produce? How should we produce it? For whom should we produce it?

What is a fault quizlet?

A fault is a break in a rock in which movement has taken place.

What happens when the molten rock breaks through the surface?

Magma is a molten and semi-molten rock mixture found under the surface of the Earth. On the rare occasions when magma breaks the surface, as in a volcanic eruption, it is called lava.

What is a basic question a producer must answer?

A basic question a producer must answer: Producers must decide how many workers to hire.

section 2 guided reading and review forms of government answer key

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How does opportunity cost vary quizlet?

The most desirable alternative given up as the result of a decision. How does opportunity cost vary? Based on what is being given up by making the decision.

Why might opportunity cost vary?

Global Connections Opportunity costs vary because every situation has a different set of trade-offs. Opportunity Cost Two of the key concepts in this section are opportunity cost and thinking at the margin.

How are trade-offs and opportunity costs different quizlet?

The difference between trade offs and opportunity cost is that a trade-off is all the resources that are lost when a consumer makes a choice. An opportunity cost is the most desirable opportunity given up when a consumer makes a choice.

What happens when large sudden rock movements occur along a fault?

Faults are cracks in the earth's crust along which there is movement. These can be massive (the boundaries between the tectonic plates themselves) or very small. If tension builds up along a fault and then is suddenly released, the result is an earthquake.

How does molten rock get to the Earth's surface?

As they rise, gas molecules in the magma come out of solution and form bubbles and as the bubbles rise they expand. Eventually the pressure from these bubbles is stronger than the surrounding solid rock and this surrounding rock fractures, allowing the magma to get to the surface.

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What are the three main questions of economics addresses who should?

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How does opportunity cost vary quizlet?

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