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10 July, 11:24

What are three basic questions economic systems answer?

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  1. 10 July, 11:51
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    The three basic economic questions are:

    What goods and services should be produced?

    - biased on supply and demand and on the amount of resourses to crate that good or service

    How should the goods and services be produced?

    - depends on the quality of the product and weather or not there is enough materials to make product

    For whom should the goods and services be produced?

    -whoever needs or wants them. Law of supply and demand.

    ~~Baisically all the answers to this question depend on the good or product and the people who need them.
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