Markets or governments make economic decisions about how to most efficiently convert their resources into goods and services. The basic economic question that is being answer is how to produce.
They are answering the question, "Who will receive the goods and services?"
The question markets or governments are answering when they make decisions about how to efficiently convert resources in to goods and services is How to Produce? This is part of a planned economy which tries to improve productivity.
I Would have to say what is being produced, how, whom and others can be decided after the what
In market-based economies, markets determine prices which will answer the three economic questions
when an economic produces more houses and fewer typewriters it ts answering the ------ question.
Answer this question… Local governments have been granted more independence when making economic policy.
What to produce
What to produce
what to produce
The question markets or governments are answering when they make decisions about how to efficiently convert resources in to goods and services is How to Produce? This is part of a planned economy which tries to improve productivity.
Markets or governments make economic decisions about how to most efficiently convert their resources into goods and services. The basic economic question that is being answer is how to produce.
I Would have to say what is being produced, how, whom and others can be decided after the what
I Would have to say what is being produced, how, whom and others can be decided after the what
In market-based economies, markets determine prices which will answer the three economic questions
The question markets or governments are answering when they make decisions about how to efficiently convert resources in to goods and services is How to Produce? This is part of a planned economy which tries to improve productivity.
when an economic produces more houses and fewer typewriters it ts answering the ------ question.
Let me answer your question with another question, at which point in time?
Answer this question… Local governments have been granted more independence when making economic policy.