Three Basic Economic Questions
Students will explore the fundamental questions of 'what to produce,' 'how to produce,' and 'for whom to produce' that all societies must answer.
Key Questions
- Explain how different societies prioritize answers to the three basic economic questions.
- Compare the implications of various answers for resource allocation and societal well-being.
- Predict how a country's cultural values might influence its approach to these questions.
Ontario Curriculum Expectations
Suggested Methodologies
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