Responses
What goods and services should be produced?
What goods and services should be produced?
Who will consume the goods and services?
Who will consume the goods and services?
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
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 other options, as it involves making decisions about which goods and services to produce, who will consume them, and how they will be produced.
