The correct answers are
help countries respond to the issue of scarcity
answer the three key economic questions
Economic systems help countries determine how scarcity will be addressed. Scarcity is the idea that there is a limited number of resources in the world, forcing citizens and businesses to make decisions regarding what they can buy and produce. Some economic systems allow for choices to be made by citizens and businesses alike (like capitalism). Other economic systems revolve around the idea of government planning, which essentially allows the government to make decisions for businesses and citizens (such as communism).
The correct answers are the options: A, D and E.
To begin with, the economic systems seek the correct distribution of the goods and services produced in a particular economy to the major amount of people of that economy due to the fact that the scarcity will impact against that distribution. Therefore that the main questions to be asked from all the economists who try to fight against the scarcity, are the questions of what the economy must produce in order to survive; how the economy should produce those goods and services despite scarcity; and finally to whom will the economy produce due to the fact that there is not enough for everyone.
Help nations respond to the problem of scarcity and solve the three key economic issues, are the right answers.
The economic system of a nation helps the government to counter the problem of scarcity. Scarcity in the context of Economy is the belief that there is a restricted number of resources throughout the world, urging citizens and corporations to make choices about what they can purchase and produce. At the same time, some economic systems provide choices to be executed by citizens and companies alike (such as capitalism). Another system of economics revolves around the notion of state planning, which actually supports the government to make choices for companies and residents (like communism).
All economic systems must answer the 3 basic questions:
1. What goods and services will be produced
2. How will the goods and services be produced?
3. Who will consume the goods and services?
what goods and service to produce
how should goods and service be produced
when goods and service will be produced