Question

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

A.
Where should goods be produced?

B.
How should goods be produced?

C.
What goods are produced?

D.
Which resources can be used for goods?

E.
Who receives the produced goods?

F.
Why will people buy the goods?

Answer 1

The correct options are B, C, and E. How should goods be produced? What goods are produced? and Who receives the produced goods? are the basic questions of economics.

What is the for whom question in economics?

We must consider how our products are distributed. Production factors bring in money. You can buy products and services with these earnings. Thus, more goods and services can be desired with higher income.

Thus, These three issues are addressed by economists:

(1) What products and services ought to be created to satisfy client demands?

(2) Who should generate them, and how should they be produced?

(3) Who ought to be given commodities and services? The economic system of a nation determines the answers to these queries.