Ch. 1 Essay Possibilities
Be prepared to answer any/all of the following questions:
1. Name the three factors of production.
2. Briefly describe the basic economic problem
3. All economies must answer three economic questions. Name them.
4. Explain what is meant by the saying that consumers "vote" with their dollars every time they buy products in the marketplace.
1. Name the three factors of production.
2. Briefly describe the basic economic problem
3. All economies must answer three economic questions. Name them.
4. Explain what is meant by the saying that consumers "vote" with their dollars every time they buy products in the marketplace.
