Economies of Eastern Hemisphere nations
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The three basic economic questions that must be addressed by every society are: What goods and services shall be produced and in what quantities? How shall goods and services be produced? For whom shall goods and services be produced?
The ways resources are used impact the economic, political, and historic aspects of life throughout the world.
People have unlimited needs and wants which they must meet with limited resources.
A nation with limited natural resources must interact with other nations to secure its resource needs.
In many areas of the world, improvement in life expectancy and health care have contributed to rapid population growth.