Answer:
The three basic economic problems are regarding the allocation of the resources. These are what to produce, how to produce, and for whom to produce.
Explanation:
Economic systems as a type of social system must confront and solve the three fundamental economic problems:
1. What kinds and quantities of goods shall be produced, "how much and which of alternative goods and services shall be produced?"
2. How shall goods be produced?
3. For whom are the goods or services produced?
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Answers & Comments
Answer:
The three basic economic problems are regarding the allocation of the resources. These are what to produce, how to produce, and for whom to produce.
Explanation:
Economic systems as a type of social system must confront and solve the three fundamental economic problems:
1. What kinds and quantities of goods shall be produced, "how much and which of alternative goods and services shall be produced?"
2. How shall goods be produced?
3. For whom are the goods or services produced?