What are the 3 basic problems of economics 12th?
Answers
how to produce?
whom to produce?
1. What goods and services will be produced? For instance, an economy must choose whether they should produce kitchen machines or weapons, assemble and settle streets or purchase course readings for schools.
2. How will goods and services be produced? For instance, would it be a good idea for us to utilize copper or plastic to make channels? Should machines be utilized to make attire or should specialists make it by hand? Should the power plant be built near the sea or inland? Which compost is best to develop strawberries? There are a large number of choices that should be made to make sense of how to produce goods and services.
3. Who will consume the goods and services? When the goods and services are produced, who will get the opportunity to consume them? Will individuals consume them on a first-come, first-served premise Should goods be apportioned or given out by tallness, weight, religion, age, sex race, looks, quality, wellbeing or riches?