QUESTION IMAGE
Question
- what are the three economic questions that every society needs to address? what to produce? how much to charge? how to produce? what to produce? how to produce? for whom to produce? what to produce? where to produce? how to produce? none of the above.
Brief Explanations
The core fundamental economic questions all societies must address are focused on resource allocation: deciding what goods/services to create, the methods to produce them, and who will receive the final output. Pricing (how much to charge) is a derivative of these, and location (where to produce) is part of the "how to produce" or logistical detail, not a core overarching question.
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What to produce? How to produce? For whom to produce?