Failure to address the three questions of economics will have what kind of impact on an economy? a. it will have no consequences. b. it will meet citizens’ needs and wants. c. it will have negative consequences. d. it will contribute to the success of the society.

Correct answer choice is :

When prices increase for energy, food, materials, and other goods and services, the whole economy is affected. Rising prices, identified as an extension, affect the cost of living, the cost of doing business, borrowing money, mortgages, corporate and government bond yields, and every other aspect of the economy.

The three questions of economics are:

1. What goods and services to produce?

2. How to produce these goods and services?

3. Who will consume these goods and services?

Failure to answer these question will surely have consequences. Otherwise, these will not be pegged as the basic questions of economics. Failure to address these questions/concerns will have negative consequences. So, the answer is C.