AnswersFL-2106010-MJ Civics BIntroduction to EconomicsQuestion 6
6
QuizMultiple Choice

Introduction to Economics

Question 6 • FL-2106010-M/J Civics B

Two name brand electronic companies have decided join the cellular phone production market. To save money on how much they pay their employees, they have decided to have their new phones manufactured overseas. Which of the basic economics questions have these companies answered? i. What should be produced? ii. How should it be produced? iii. Who will use what is produced?

Answer
A
i only
B
iii only
C
i and ii only
D
i, ii, and iii

Explanation

The companies have answered “What should be produced?” by deciding to make cellular phones. They have also answered “How should it be produced?” by choosing to manufacture the phones overseas to reduce labor costs. They have not specified who will use the phones, so the best answer is “i and ii only.”

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