Question

Which of the following correctly lists the three fundamental economic questions?

a) If to produce? Why to produce? When to produce?
b) If to produce? What to produce? How to produce?
c) Why to produce? What to produce? How to produce?
d) What to produce? How to produce? For whom to produce?

Answer 1

The three fundamental economic questions are: What to produce? How to produce? For whom to produce?

Step-by-step explanation:

The correct answer is d) What to produce? How to produce? For whom to produce?

These three questions are often referred to as the three fundamental economic questions. They help to find out about how resources should be allocated in an economy.

1. What to produce? This question refers to the selection of goods and services that should be produced to meet the needs and wants of society.
2. How to produce? This question focuses on determining the most efficient methods and production processes to produce goods and services.
3. For whom to produce? This question addresses the distribution of goods and services and who should benefit from the production.

By answering these three questions, a society can effectively allocate resources, make production decisions, and meet the needs of its people.