Economy, asked by faishal7256, 1 year ago

Which basic economic question determines how a society will produce goods and services?

Answers

Answered by pristina
0

Answer: How to produce

Explanation:

The three main economic questions are:

a. What to produce- since resources are limited we must decide what goods should be produced, whether to make necessity goods or luxury goods.

b. How to produce- Once the goods are selected we must decide on whether the goods must be produced using labor intensive technology or capital intensive technology.

c. For who to produce- This question deals with who will get the benefits of the goods being produced.

So, the economic question is how to produce.

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