what to produce? how to produce it? for whom to produce it?
Societies answer the three economic questions based on their values!
Who is prouducing what are they prouducing and how are they producing
Yes
Economists also study how economic systems address three basic questions: What shall we produce?; How shall we produce it?; For whom shall we produce it?
false
Societies answer the three economic questions based on their values!
Who is prouducing what are they prouducing and how are they producing
Yes
Economists also study how economic systems address three basic questions: What shall we produce?; How shall we produce it?; For whom shall we produce it?
false
Scarcity of resources
market economy
Scarcity of resources
The 3 basic questions in economics are: What to produce? How to produce? For whom to produce?
where did we come from how we should live where do we go All questions might include 'why or what'
traditional system.
Market