Directions: Read section 1-1 and write the 3 questions economist ask and examples of how each question is answered, addressed or solved in the chart. Please use the spaces provided. All responses must come from text. 3 Questions Economists Ask Question 1 Question 2 Question 3 Type examples from the text of how Type examples from the text of Type examples from the text of the question is answered or how the question is answered or how the question is answered or addressed. addressed. addressed. 1 2. 2. 2. 3 3 3. 4. 14. 5 5 5. QUESTION 1 What Will Be Produced? To answer the first fundamental eco- nomic question, a society must decide the mix of goods and services it will produce. Will it produce mainly food, or will it also produce automobiles, televisions, computers, furniture, and shoes? The goods and services a society chooses to produce depend, in part, on the natural resources it possesses. For example, a country that does not post sess oil is unlikely to choose to pro duce petroleum products. Resources, however, do not completely control what a country produces. Japan does not possess large amounts of the iron ore needed to make steel. Yet Japan is a leading producer of automobiles. What to Produce The availability of natural resources, such whose construction requires a great as gold in South Africa, influences what a country produces