Know key concepts on page 64. Review your Aplia homework too. Chapter 3: For this chapter, the multiple-choice questions will be very similar to those on the Chapter 3 practice quiz (available on Aplia). You must find the answers to these practice questions in the textbook.
1.4.2 The 3 Key Economic Questions every Society must answer: Who? What? and How? As we have been learning, everyone is forced to deal with scarcity. We, as individuals, are forced to deal with it. We, as families, are forced to deal with it. And we, as societies, as countries, are forced to d...
Ch. 2: Economic Systems S1: Answering the 3 Economic Questions S2: The Free Market S3: Centrally Planned Economies S4: Mixed Economies. Bell Work • Get books/folders ready • Copy Chart on page 23 somewhere in notes • Fill this in as we go along in notes • Will help give you an overview of section • Answer Chapter 2 Warm-up • Pg. 12 A-D
Science Cannot Provide Complete Answers to All Questions. There are many matters that cannot usefully be examined in a scientific way. There are, for instance, beliefs that—by their very nature—cannot be proved or disproved (such as the existence of supernatural powers and beings, or the true purposes of life). Traditional economies are largely based on custom and religion and may involve the barter system. Assessment 1. Compare the answers to the three basic economic questions in a pure economy with the answers to these questions in a pure centrally planned economy. Present your answers using a spreadsheet or grid. (Page 34)