QuestionAugust 6, 2025

Which of these best illustrates the importance of addressing the three questions of economics? People's desires and needs are always changing. Businesses need to use limited resources wisely. Traditional methods of production are outdated. Businesses need to limit production.

Which of these best illustrates the importance of addressing the three questions of economics? People's desires and needs are always changing. Businesses need to use limited resources wisely. Traditional methods of production are outdated. Businesses need to limit production.
Which of these best illustrates the importance of addressing the three questions of economics? People's desires and needs are always changing. Businesses need to use limited resources wisely. Traditional methods of production are outdated. Businesses need to limit production.

Solution
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Answer

Businesses need to use limited resources wisely. Explanation 1. Identify the core economic issue The three questions of economics focus on what to produce, how to produce, and for whom to produce. These questions are crucial in managing limited resources efficiently. 2. Analyze options "Businesses need to use limited resources wisely" directly addresses the importance of resource allocation, which is central to the three economic questions.

Explanation

1. Identify the core economic issue<br /> The three questions of economics focus on what to produce, how to produce, and for whom to produce. These questions are crucial in managing limited resources efficiently.<br /><br />2. Analyze options<br /> "Businesses need to use limited resources wisely" directly addresses the importance of resource allocation, which is central to the three economic questions.
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