How does a Free Market Economic System answer the 3 questions, What? How? and for Whom

What to produce? Good: (something tangible that one pays to consume)

Consumer goods (bought and used by consumers)

Capital Goods (used in the production of other goods)

Service (worker or labor that is performed of other goods)

How to produce? Factors of production/Productive Resources 1. Natural Resource/Land 2. Human Resources 3. Physical capital 4. Entrepreneurship

For whom to Produce? Countries develop economic systems to determine how to allocate scarce resources