Question
Which economic question does the decision to produce butter instead of guns answer?
1.What to produce?
2.How to produce?
3.For whom to produce?
4.Who has a comparative advantage in gun production?
5.Who has an absolute advantage in butter production?
I am a little confused on this question. I am stuck between the answer (3) and (5). I would appreciate any help. Thanks
1.What to produce?
2.How to produce?
3.For whom to produce?
4.Who has a comparative advantage in gun production?
5.Who has an absolute advantage in butter production?
I am a little confused on this question. I am stuck between the answer (3) and (5). I would appreciate any help. Thanks
Answers
Johanna
I think I am thinking too deeply into it. Is it simply (1), what to produce?