Which of the following is one of the four basic questions that must be answered in all economies?
The four basic economic questions are (1) what goods and services and how much of each to produce, (2) how to produce, (3) for whom to produce, and (4) who owns and controls the factors of production. In a capitalist economy, the first question is answered by consumers as they spend their money.Click to see…
The four basic economic questions are (1) what goods and services and how much of each to produce, (2) how to produce, (3) for whom to produce, and (4) who owns and controls the factors of production. In a capitalist economy, the first question is answered by consumers as they spend their money.Click to see full answer. Furthermore, what are the four basic questions that must be asked in all economic systems quizlet? According to the lesson, the four questions that must be asked in all economic systems are as follows: Which goods should be produced, and how many? How should these goods be produced? Who should own and control the factors of production? For whom are the goods produced? Also, what are the basic problems questions in economy? Solved Question on Basic Problems Of An Economy Answer: The four basic problems of an economy, which arise from the central problem of scarcity of resources are: What to produce? How to produce? For whom to produce? Also to know, what are the 3 economic questions that must be answered? Because ALL economic resources are scarce, every society must answer three questions: What goods and services should be produced? How should these goods and services be produced? Who consumes these goods and services? What set of questions do all economic systems have to answer quizlet?1) What goods and services should be produced? 2) How should the goods and services be produced? 3) For whom should the goods and services be produced?
