3 Basic Economic Questions

WHAT to produce?

Should a society direct most of its resources to the production of military equipment or to other items such as food, clothing, or housing.

HOW to produce?

Should a society direct most of its resources in machinery or use less machinery to employ more workers and lower unemployment?

FOR WHOM to produce?

Once a society decides what to produce and how to produce it, they must decide who is going to get it and who is going to share in what is produced.

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