Well, honey, every society has to figure out what to produce, how to produce it, and who gets to consume it. It's like a never-ending game of economic musical chairs, but with more serious consequences. So, buckle up and get ready to make some tough choices, because ain't nobody getting a free ride in the world of economics.
What to produce How much to produce and for whom to produce LOL idk if thats right .... :)
The basic economic problem is about scarcity and choice, which every society has to deal with.
In every type of economy? How about -- growth rate, employment rate, and trade balance.
The three economic choices every society must make is what the society will produce, how it will be produced, and who will get what is produced.
I would say that it is 1.What should be produced? 2. For whom should we produce? 3.How should we produce?
What to produce How much to produce and for whom to produce LOL idk if thats right .... :)
The basic economic problem is about scarcity and choice, which every society has to deal with.
What goods and services should be produced?How should the goods and services be produced?Who should get the goods and services?
In every type of economy? How about -- growth rate, employment rate, and trade balance.
The three economic choices every society must make is what the society will produce, how it will be produced, and who will get what is produced.
I would say that it is 1.What should be produced? 2. For whom should we produce? 3.How should we produce?
What goods and services are to be produced with the limited resources of a society.? How can the limited resources be used to benefit the society? Who are to be benefited from the existing resources:? How can the economy change to the fluctuating environment? How can health and sustainability be addressed?
What goods and services are to be produced with the limited resources of a society.? How can the limited resources be used to benefit the society? Who are to be benefited from the existing resources:? How can the economy change to the fluctuating environment? How can health and sustainability be addressed?
Neither purely market nor purely command economies can adequately answer the basic economic questions in every situation. -Plato
The family is the basic unit of society because every individual must belong to a family. A number of families together form a community or a society.
What to produce. How to produce. and How much to produce.
what to produce. how to produce. who gets it