Final answer:
The claim about the four basic questions in a capitalist economy is False. The core economic questions addressed by any economy are what to produce, how to produce, and for whom to produce.
Step-by-step explanation:
The statement that the four basic questions in a capitalist economy are what to produce, how to produce, who should produce, and when to produce is False. Every economy, be it capitalist or not, must determine three critical economic questions:
- What should be produced?
- How should it be produced?
- For whom should it be produced?
These questions are fundamental in understanding how an economy functions and allocates its scarce resources. In capitalist economies, these decisions are typically made by the market, where prices and competition determine what goods and services are produced, the methods of production, and who gets the products. This contrasts with a command economy, where the government typically makes these decisions.