Where should products be produced?
According to how the three basic economic questions are answered.
where should the products be produced
Where should products be produced
Scarcity of resources cause all nations to answer 3 economic questions because people have unlimited wants but limited resources to produce them.
Basic economic questions all deal with scarcity. These type of questions must be asked so that economic decisions will be made that are beneficial.
According to how the three basic economic questions are answered.
where should the products be produced
Scarcity of resources
Where should products be produced
Scarcity of resources cause all nations to answer 3 economic questions because people have unlimited wants but limited resources to produce them.
Basic economic questions all deal with scarcity. These type of questions must be asked so that economic decisions will be made that are beneficial.
market economy
Societies answer the three economic questions based on their values!
The 3 basic questions in economics are: What to produce? How to produce? For whom to produce?
market
traditional
3 types of economic system