Which basic economic question determines how a society will produce goods and services?

Question

Business

Kailey Howell

24 May, 21:16

Which basic economic question determines how a society will produce goods and services?

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Answers (2)

Know the Answer?

Nehemiah Hudson · Answer 1

the three basic questions are:

1. who consumes the goods and services produced in society?

2. what goods and services should be produced?

3. how should goods and services be produced?

Cohen Cross · Answer 2

I believe the answer is: What goods and services are produced?

Before we can determine how we should produce goods or service, we first need to determine the type of goods and services that are needed by the market. After knowing this, then we can see the resources availability in near us to determine the most efficient method to do the production.