Final answer:
The identification of resources to meet specific needs is influenced by three basic economic questions: what to produce, how to produce, and for whom to produce. These decisions involve considering both the needs and wants of the population and the best methods of production and distribution.
Step-by-step explanation:
The identification of resources to meet specific needs is guided primarily by three fundamental economic questions that every society faces:
- What should we produce?
- How should we produce it?
- For whom should we produce it?
These questions relate to the allocation of resources and how to address the issue of scarcity. Societies must decide which goods and services are needed to satisfy the needs and wants of their populations.
Firstly, determining what goods and services are needed requires an understanding of the society's necessities and desires. Secondly, deciding how to produce those goods and services involves considering various production methods that could be used, taking into account factors like efficiency, cost, and environmental impact. Finally, societies must determine for whom to produce, which involves addressing questions of distribution and equity.
These decisions are influenced by factors such as available technology, cultural values, and economic systems.