Three Basic Economic Questions Marie Peck

What to Produce?
The first question explains what economics should be providing for. it explains what scarce resources should be used for. Either military equipment or other items such as food, clothing, or housing. Society cannot have everything its people want, so it must decide on what to produce.


How to Produce?
The second question explains that what method is better for the mass production and lower production costs to make manufactured items less expensive in order to have them available to more people
For whom to produce?
In the third question, this deals with For whom to produce. It explains that after society deciding what and how to produce, the things produced must be distributed to someone.


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