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What are the 3 fundamental questions that all economic systems must answer?
Wiki User
∙ 11y ago
- What to produce?
- How to produce?
- For whom to produce?
These are the three fundamental questions that all Economic systems must answer.
Wiki User
∙ 11y ago
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What three questions must all economic systems answer?
what three questions must all economic systems answer?
What is the fundamental economic questions all societies must face?
42.
What are the three questions the economic system must answer?
The thre questions that all economic systems must ask are: What to make? How to make it?, and Who gets it? Tough questions.
What are the three economic questions that economic systems must answer?
The 3 basic questions in economics are: What to produce? How to produce? For whom to produce?
What are three questions that all economic systems must answer?
The three questions are what to make, how to make it, and who gets the product/service.
What three questions must all economic systems answer?
what three questions must all economic systems answer?
What is the fundamental economic questions all societies must face?
42.
What are the three questions the economic system must answer?
The thre questions that all economic systems must ask are: What to make? How to make it?, and Who gets it? Tough questions.
What are the three economic questions that economic systems must answer?
The 3 basic questions in economics are: What to produce? How to produce? For whom to produce?
What are three questions that all economic systems must answer?
The three questions are what to make, how to make it, and who gets the product/service.
Under the command economy who decides the answer to the three questions the all economic systems must answer?
the people
What is the definition of basic economic questions?
Basic economic questions all deal with scarcity. These type of questions must be asked so that economic decisions will be made that are beneficial.
Why do countries with different economic systems face the same fundamental economic problems?
The central problem in economics is that resources are scarce and have alternative uses, but our wants are without limits! Therefore not all of our wants can be satisfied. We must therefore choose what goods and services to produce and therefore which of our many wants to satisfy.
Economic systems must address?
Broad social / economic goals. The political process. The production possibilities curve. Utility.
State and explain the five fundamental economic questions any society must answer in attempting to achieve and maintain efficiency in the use of its scarce economic resources?
1) Decide what to produce. 2) Decide how to produce. 3) Decide how to divide the output 4) How will the economy adapt to the changing environment. 5)Don't do any of it.
What are the three basic economic questions must be answered in a barter economy.?
guide the economy
What are three economic questions that every country must answer?
What to produce. How to produce. and How much to produce.
