Question

centralized command and control prevails throughout a certain nation’s economy. what three key economic questions have been addressed in this nation, and what has been the common element of the nation’s answers to those questions?
the three key economic questions that have been addressed in this nation are:
a. who owns the scarce resources and production processes, how the items are produced, and who values the items produced most highly.
b. what and how many items to produce, how scarce resources are used in producing the items, and who can obtain the items produced.
c. what the most valuable items are to produce, how scarce resources are used in producing the items, and what the fairest way is of distributing the items produced.
d. who owns the scarce resources, what items will be produced using the scarce resources, and who can obtain the items produced.
the common element of the nation’s answers to those key economic questions has been:
a. a centralized authority assuming responsibility for what and how many items to produce, and private parties assuming responsibility for how scarce resources will be organized in the items’ production, and who will be able to obtain the items.
b. the price system assuming responsibility for addressing them.
c. a mixed economic system assuming responsibility for addressing them.
d. a centralized authority assuming responsibility for addressing them.

Explanation:

First Question (Three Key Economic Questions)

The three key economic questions are: 1) What to produce (and how much), 2) How to produce (using scarce resources), 3) For whom to produce (who gets the goods). Option B matches these: "what and how many items to produce, how scarce resources are used in producing the items, and who can obtain the items produced." Other options either include non - key - question elements (like ownership in A, D; value/fairness in C) or misframe the questions.

The nation has a centralized command economy. In such an economy, a centralized authority (not private parties, price system, or mixed system) makes decisions about production, resource use, and distribution. Option D states "a centralized authority assuming responsibility for addressing them", which fits. Option A has private parties involved (not in command economy), B is for market economy, C is for mixed or non - command systems.

Answer:

B. what and how many items to produce, how scarce resources are used in producing the items, and who can obtain the items produced.

Second Question (Common Element in Answers)