Question
What are the three basic economic questions that all societies must answer?
a. who will buy, who will sell, and who will trade?
b. how to save, how to spend, and how to invest?
c. what to produce, how to produce it, and for whom to produce it?
d. where to build factories, where to farm, and where to mine resources?
a. who will buy, who will sell, and who will trade?
b. how to save, how to spend, and how to invest?
c. what to produce, how to produce it, and for whom to produce it?
d. where to build factories, where to farm, and where to mine resources?
Answers
GPT-4o mini
The correct answer is:
**c. what to produce, how to produce it, and for whom to produce it?**
These three fundamental questions address the allocation of resources in an economy.
**c. what to produce, how to produce it, and for whom to produce it?**
These three fundamental questions address the allocation of resources in an economy.