The basic economic problem that societies must solve is: How to allocate resources in order to best satisfy the needs and wants of people. This encompasses the decisions regarding what goods and services to produce, how to produce them, and who will consume them.
What is the basic economic problem that societies must solve?(1 point)
Responses
Who will consume the goods and services?
Who will consume the goods and services?
What goods and services should be produced?
What goods and services should be produced?
How will the goods and services be produced?
How will the goods and services be produced?
How to allocate resources in order to best satisfy the needs and wants of people.
How to allocate resources in order to best satisfy the needs and wants of people.
1 answer
1 answer