The Basic Economic Question Guiding Question

[Pages:3]The Basic Economic Question Guiding Question

How do people get the things they want and need?

The Basic Economic Question

Main Ideas

? People meet their wants and needs by using resources, both natural and human.

? Renewable resources can be totally replaced or are always available naturally, while nonrenewable resources cannot be totally replaced.

? Because of limited resources and unlimited wants, people must make economic choices.

? The three basic economic questions are what to produce, how to produce, and for whom to produce.

The Basic Economic Question

Reading Progress Check

How are renewable and nonrenewable resources alike, and how are they different?

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