Question

Economics choices can be summarized i five big questions

Answer 1

Answer: The choices can be summarized in five big questions as : -

what goods and services to produce and in what quantity ?

How to produce these goods and services ?

For whom to produce those goods and services ?

How efficiently are the resources being utilized ?

Is the economy growing by the effect of choices made for goods and services?

Explanation:As a society cannot produce enough goods and services to satisfy all the wants of people , it has to make choices . A decision to produce one good at a time has the requirement to decrease the production of another good , this here involves making choice , which involves sacrifice .  The choices made are directly linked with the growth rate of the economy .