The statement "the quantity demanded of a product varies inversely with its price" is a definition

the law of demand.

Explanation:

Under the law of demand, the demand for a particular good is given by the amount of good that buyers wish to acquire in a given period of time. In this case, the demanded quantity of a product varies inversely with its price, because when the price of the product goes up the demand quantity of that product goes down, similarly when the price of the product goes down, the demanded quantity of that product goes up.

every society, in order to meet the needs of it's people, has to answer three basic questions:

- what should we produce?

- how should we produce it?

- for whom should we produce it?

this questions must be answered in order to, option b, aid in production decisions.

every country can't produce everything, no matter how rich their land is. it may be a matter of technology, resources or geographical conditions. so, these three questions must be resolved in order to get the most of the production of each land.

hope this !

you would times this by how many days there are in a year 365*400=$146000