The three basic economic questions are:
what to produce, how to produce and for whom to produce
by individuals in the market.
who
what
how
The 3 basic questions in economics are: What to produce? How to produce? For whom to produce?
3 types of economic system
what to produce? How to produce it? How much it will cost?
Basic economic questions all deal with scarcity. These type of questions must be asked so that economic decisions will be made that are beneficial.
hgh
The 3 basic questions in economics are: What to produce? How to produce? For whom to produce?
3 types of economic system
what to produce? How to produce it? How much it will cost?
Basic economic questions all deal with scarcity. These type of questions must be asked so that economic decisions will be made that are beneficial.
hgh
by the interaction of buyers and sellers in a marketplace.
market economy
Societies answer the three economic questions based on their values!
Scarcity of resources cause all nations to answer 3 economic questions because people have unlimited wants but limited resources to produce them.
This is really simple it is like for who, what, and where . You should have learned this information in middle school. Here is the 3 basic questions that every society needs to answer. How to distribute, What is the item?, and For whom to produce?
1. What to produce? 2. How to produce? 3. For whom to produce?
According to how the three basic economic questions are answered.