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United StatesMicroeconomicsQuick questions
Unit 1: Basic Economic Concepts
Quick questions on Resource Allocation and Economic Systems - AP Microeconomics Topic 1.2
2short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is q1?Show answer
State the three basic economic questions every economy must answer. [3 points]
What is q2?Show answer
Explain why prices are described as "signals" in a market economy. [2 points]
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