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Which of the following addresses all three of the basic economic questions?

AYou start your own lunch delivery service serving area businesses and featuring all organic meals baked in your home.
BYou start a wedding planning business and advertise your services online.
CYou decide to work from home using your existing office as your headquarters.
DYou launch a nanny-referral service focusing on young, working families in your community.

Verified Answer :

Hello there.

Which of the following addresses all three of the basic economic questions?

A) You start your own lunch delivery service serving area businesses and featuring all organic meals baked in your home.

The correct answer is option A) You start your own lunch delivery service serving area businesses and featuring all organic meals baked in your home.

What are the basics of economics?

At the most basic level, economics attempts to explain how and why we make the purchasing choices we do. Four key economic concepts scarcity, supply and demand, costs and benefits, and incentives can help explain many decisions that humans make.

What are the 5 concepts of economics?

  • Supply and demand.
  • Scarcity.
  • Opportunity cost.
  • Time value of money.
  • Purchasing power.

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