What are 3 economic questions?
Answered by Jacquelline Hill
Economics has three questions that reflect the choice of the most effective option for the distribution of manufacturing factors. The first of them is what should be produced? It means that producer has to determine which goods and in what quantity is demanded. The second question is how it should be produced? It refers to resource allocation, technologies, and opportunity costs. The third issue for whom it should be produced? concerns the target audience.