the three questions of economics best help in making decisions about production consumption usage expenditures

the three questions of economics best help in making decisions about production consumption usage expenditures

the three questions of economics best help in making decisions about production consumption usage expenditures

Answer

Brief Explanations:

Economics' three - questions (what to produce, how to produce, for whom to produce) are fundamental in making decisions related to production and consumption. Production involves decisions about what goods and services to create, and consumption is about who will use those goods and services. Expenditures are related to consumption as consumers spend on goods and services, and producers spend on factors of production. Usage is a more general term and not as directly related to the core economic decision - making process as production and consumption.

Answer:

production, consumption, expenditures