Question

Trade-offs force society to make​ choices, particularly when answering the following three fundamental​ questions:

A. ​One, what goods and services will be produced​ domestically? Two, how will the goods and services be​ produced? Three, is the distribution of goods and services​ fair?
B. ​One, what goods and services will be​ produced? Two, how will the goods and services be​ produced? Three, is the distribution of goods and services​ fair?
C. ​One, what goods and services will be produced in foreign​ countries? Two, who will produce the goods and​ services? Three, who will receive the goods and services​ produced?
D. ​One, what goods and services will be​ produced? Two, how will the goods and services be​ produced? Three, who will receive the goods and services​ produced?

Answer 1

The correct answer is D. One, what goods and services will be​ produced? Two, how will the goods and services be​ produced? Three, who will receive the goods and services​ produced?

Step-by-step explanation:

There are two questions in particular that summarize the reason for the economy:

• How do elections determine what, how and for whom goods and services are produced?

• At what point are choices made in pursuit of personal interest promoting social interest?

What, how and for whom?

Goods and services are the objects that people value and produce to meet their needs.

What? It determines the goods and services that are produced as well as the amount that is produced from each good and service.

How? Goods and services are produced using what economists call production factors.

The factors of production are the resources that companies use to produce goods and services. These factors fall into four categories:

• Earth

• Job

• Capital