Three Basic Economic Questions Jesus Meza

Unlimited wants

Money is a want, can never have enough

limited resources

Money is a limited resource as well as gas and oil

Scarcity

Fundamental economic problem

Choices

Economics is the study of how people make choices with scarce resources

What to produce?

Produce food

How to produce?

Farming is a good way to produce

For whom to produce?

The people
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Jesus Meza
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