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24 July, 12:46

How do the three questions of economics influence economic

decisions?

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  1. 24 July, 13:02
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    In order to meet the needs of its people, every society must answer three basic economic questions:

    What should we produce?

    How should we produce it?

    For whom should we produce it?

    Every society, regardless of its political structure, must develop an economic system to determine how to use its limited productive resources to answer the three basic economic questions of what, how, and for whom to produce.
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