1. What to produce? 2. How to produce? 3. For whom to produce?
42.
Basic economic questions all deal with scarcity. These type of questions must be asked so that economic decisions will be made that are beneficial.
The 3 basic questions in economics are: What to produce? How to produce? For whom to produce?
Societies face the three basic economic questions of what to produce, how to produce, and for whom to produce due to the scarcity of resources. With limited resources and unlimited wants, societies must make choices about the allocation of those resources. These questions help determine the priorities and methods for production, ensuring that the needs and desires of the population are met as effectively as possible. Ultimately, they guide economic decision-making and influence social structures and policies.
Where should products be produced
42.
Basic economic questions all deal with scarcity. These type of questions must be asked so that economic decisions will be made that are beneficial.
The 3 basic questions in economics are: What to produce? How to produce? For whom to produce?
Societies make choices about how to use their resources. Businesses make choices about what to produce and when to produce it.
Societies face the three basic economic questions of what to produce, how to produce, and for whom to produce due to the scarcity of resources. With limited resources and unlimited wants, societies must make choices about the allocation of those resources. These questions help determine the priorities and methods for production, ensuring that the needs and desires of the population are met as effectively as possible. Ultimately, they guide economic decision-making and influence social structures and policies.
Societies make choices about how to use their resources. Businesses make choices about what to produce and when to produce it.
Where should products be produced
Where should products be produced?
guide the economy
yes... yes you can...
Scarcity of resources cause all nations to answer 3 economic questions because people have unlimited wants but limited resources to produce them.
what three questions must all economic systems answer?