0
three basic questions that an economy faces are
-what to produce?
-how to produce?
-for whom to produce?
the first one implies the commodity bundle i.e what commodities to produce more and what less.second one implies what technology to be used.i.e whether more labor or more capital to be used.and the third one implies which section should be given more preference i.e whether luxury products should be produced for rich people or necessary items .
What else can I help you with?
What are the 3 fundamental questions that all economic systems must answer?
What to produce?How to produce?For whom to produce?These are the three fundamental questions that all Economic systems must answer.
Is NOT one of the three economic questions answered by individuals firms and governments?
The three fundamental economic questions addressed by individuals, firms, and governments are: "What to produce?", "How to produce?", and "For whom to produce?". A question that is NOT one of these three is "What is the best way to regulate markets?", as it pertains to policy and regulation rather than the fundamental choices about resource allocation.
What is allocation in economics?
The allocation process in a particular society's economy is the process by which the three fundamental economic questions get answered in the society.
What are three key economic questions?
The three key economic questions are: What to produce? How to produce it? Who will consume it?
What three questions must all economic systems answer?
what three questions must all economic systems answer?
What are the 3 fundamental questions that all economic systems must answer?
What to produce?How to produce?For whom to produce?These are the three fundamental questions that all Economic systems must answer.
What is allocation in economics?
The allocation process in a particular society's economy is the process by which the three fundamental economic questions get answered in the society.
What are three key economic questions?
The three key economic questions are: What to produce? How to produce it? Who will consume it?
What three questions must all economic systems answer?
what three questions must all economic systems answer?
How do the four economic systems answer the three basic questions of economics?
Societies answer the three economic questions based on their values!
Who answers the three economic questions in a command economy?
The government answers the three economic questions in a command economy.
In what economy the government answer the three economic questions?
three economic questions what to produce how (much) to produce who gets the goods Answer: Command economy.
What are the three economic questions?
The three economic questions are: What to produce? How to produce it? Who will consume it?
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 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 three economic questions?
what to produce, how to produce and who consumes it
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.
