Final answer:
Social issues often relate to the economic decisions around production, consumption, and distribution of goods and services, affected by scarcity and advances in technology and science. Government actions in spending, taxing, and regulation also significantly influence these decisions.
Step-by-step explanation:
Social issues are often related to the way goods and services are allocated within a society, which involves decisions about production, consumption, and distribution. People, whether acting individually, collectively through groups, or via government decisions, address these concerns by considering three basic economic questions: What should we produce?, How should we produce it?, and For whom should we produce it?. Scarcity, for instance, is a significant concept in economics that occurs when the wants and needs exceed the available resources, often caused by limited natural resources or human-made constraints.
Advancements in technology and science have significantly impacted productivity and the distribution of goods and services. These developments affect how various economies and markets interact on a global scale, with businesses and workers from different countries becoming increasingly interdependent. The relationship between government spending, taxes, and regulations and economic outcomes also plays a crucial role in shaping these economic decisions.