Question

The three basic economic questions societies face are (1) what goods and services

to produce, (2) how to produce those goods and services, and (3) who will get them.
In one or two paragraphs, explain how supply and demand help societies determine
their answers to these three questions. Be sure to provide an example of the effect
of supply and demand on a society's answers.

Answer 1

Supply and demand let's us know what needs to be more produced and what needs to be less produced. For example, the demand for a TV will be high, but the demand for paper might be low. So the company will produce more TVs and less paper because the Supply and demand tells them that the people want TVs. When supply is high the people don’t want it as much but the supply is low people most likely want It. Demand is just basically controlled by the people.

Answer 2

When supply is high is the people don’t want it as much. When the supply is low people most likely want It. Demand is just basically controlled by the people.

Step-by-step explanation:

Hope this helps:)