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2. Individuals, businesses, and governments make economic decisions by considering two important
factors. Identify and define these two factors, and give an example of each. (4 points)

Sagot :

anthougo

The two important factors individuals, businesses, and governments must consider when making economic decisions are external resources and internal choices.

What are economic decisions?

Economic decisions are value-driven decisions in a world of limited resources or scarcity and unlimited wants.

To make effective economic decisions, choices must favor the decision-maker.  Making choices involves taking into account many variables to help to reach effective conclusions.

Economic decisions for limited resources focus on:

  • Production
  • Distribution
  • Exchange
  • Consumption
  • Savings
  • Investments.

For example, an individual seeks employment to earn money to satisfy their needs.

Thus, the two important factors when making economic decisions are external resources and internal choices.

Learn more about making economic decisions at https://brainly.com/question/5136048

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