what to produce, how to produce and for whom to produce( rich or poor some say black or white but i think Micheal Jackson sorted out that issue) ;) when to produce and where to produce
Ghbb
The allocation process in a particular society's economy is the process by which the three fundamental economic questions get answered in the society.
One possible way to solve unemployment problems is by using the 3 fundamental questions of economics. These are what to produce, how to produce it, and the cost of production.
Societies answer the three economic questions based on their values!
Who is prouducing what are they prouducing and how are they producing
What to produce?How to produce?For whom to produce?These are the three fundamental questions that all Economic systems must answer.
The allocation process in a particular society's economy is the process by which the three fundamental economic questions get answered in the society.
One possible way to solve unemployment problems is by using the 3 fundamental questions of economics. These are what to produce, how to produce it, and the cost of production.
Societies answer the three economic questions based on their values!
Who is prouducing what are they prouducing and how are they producing
What to produce?How to produce?For whom to produce?These are the three fundamental questions that all Economic systems must answer.
Scarcity of resources
John Craig has written: 'Remarks on some fundamental questions in political economy' -- subject(s): Economics
The questions that philosophy tries to answer are more fundamental than the questions in economics or any other social science. (The answer to question A is more fundamental than the answer to question B if and only if the answer to B takes for granted or presupposes the answer to A.) All economic theories are based on theories about human nature-and the nature of being human is a question in philosophy and not one in economics. .
The 3 basic questions in economics are: What to produce? How to produce? For whom to produce?
What is to be produced? How will it be produced? For whom will it be produced? The questions are What to produce, How to produce and For whom to produce
A basic understanding of Economics plays a fundamental role in achieving success in Business.
Scarcity is the fundamental basis of economics. Without scarcity, there would be no economy.