Question 1
Basic ConceptsThe basic economic problems of the society include
- A.what to produce, how and for whom
- B.how to produce and sell
- C.scarcity, when to produce and how
- D.scarcity, for whom to produce and where
Show the answer and explanation
Answer: A (what to produce, how and for whom)
Explanation
Every society must decide what goods to produce, how to produce them and for whom.