Question

Which of the following are the basic economic questions? Select all that apply:

A. What to produce?
B. How to produce?
C. Where to produce?
D. When to produce?
E. For whom to produce?

Answer 1

The basic economic questions every economy must answer are: What to produce? How to produce? and For whom to produce? These questions address the selection of goods and services, the production process, and the distribution to consumers.

Step-by-step explanation:

The basic economic questions that every economy must address are the following:

• What to produce? - Deciding which goods and services should be produced to meet the needs and wants of consumers.
• How to produce? - Determining the production process, including the amount of labor and resources needed, and the methods and technology to be used.
• For whom to produce? - This question addresses the distribution of goods and services, and determines who will receive them based on various factors such as purchasing power or government decisions in different economic systems.

Choices A, B, and E are therefore the correct answers to the question about the basic economic questions that need to be answered by any society or economy.