Question

Jordan wants to set up a lemonade stand. which economic question should jordan answer when deciding where to place his lemonade stand?

Answer 1

I believe the answer is: For whom it should be produced.

There are only 3 basic economic questions that should be asked before opening a business. What to produce, for whom it should be produced, and how to produce it.

By knowing the target consumers, Jordan could determine the best possible place to set up his store that can be easily accessed by his target consumers.

For example, if he produce the lemonade to children, he need to place the stand on the roads where many of the students cross on their way from school to home.