Ask Question
14 June, 15:01

One of the three main questions of economics addresses who should

produce goods and services.

market goods and services.

receive goods and services.

distribute goods and services.

+1
Answers (1)
  1. 14 June, 16:31
    0
    The correct answer is: "receive goods and services".

    The three fundamental questions that every economic system needs to answer are the following:

    What goods and services should be produced with the existing scarce resources How to produce them, therefore how to organize the existing factors of production For whom are those goods and services produced

    Depending on the manner of answering these questions, a country can adopt different economic systems. For example, if the goverment decides every aspect it will be a centrally-planned economy. If decisions are reached by the free interactions of the economic agents in the markets, then it is a pure market economy. On the other hand, if decisions are reached both by the goverment and in the markets it would be a mixed market economy.
Know the Answer?