If a society decides to produce consumer goods from its available resources, it is answering the basic economic question,

Question

Brodie Harris

Business

29 June, 16:05

If a society decides to produce consumer goods from its available resources, it is answering the basic economic question,

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Answers (1)

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Keshawn Ballard · Answer 1

Answering the economic question of What to produce

Explanation:

What to produce is the problem in economics with the companies, who are involved in the producing the goods for the customer, as this problem comprises of selection of the services and goods to be produced and the quantity of the each and every commodity to be produced.

This problem occurs because the economy has limited or restricted resources so could not produce all the goods. Therefore, if the society decides to produce the consumer goods from the resources available, then it is answering the economic question of what to produce.