Given that we have relative scarcity it gives rise to three basic economic questions faced by every economy what to produce, how to produce it and for whom it should be produced.
I know wo of them are who will buy and who will make but i dont know the thirdplease help. The three basic economic questions every society is confronted with the problem of scarce resources, which requires it to make choices as to how to use.
The three main economic questions but these are not the three basic economic questions it must be noted that the three basics economics questions was. Shaniqua cook mod 11 economics: scarcity, the three basic economic questions scarcity requires every society to address what will be produced how will it be produced and for whom will it. The three basic economic questions are: what goods and services should be produced how should the goods and services be produced for whom should the goods and services be produced.
The three economic questions that every society must answer are as follows: what to produce how to produce and for whom to produce the answers to these questions handle the matters. Three economic questions: what, how, for whom what it means in order to meet the needs of its people, every society must answer three basic economic questions.
As an entrepreneur and as an economic agent, there are three basic economic questions you should ask when deciding how to allocate scarce resources.