What are the three basic economic questions that all societies/economies must answer?
Who - consumes the goods & services produced in society?
What -goods & services should be produced?
How - should goods & services be produced?
"For whom?"
All economic systems must determine which goods and services will be available for public use and which for private use.
"What to produce?"
All economic systems must determine how to allocate productive resources in the form of land (natural resources/raw materials), labor (work for which we earn pay) and capital (human - education & job training) (physical - buildings, equipment & tools).
"How to produce?"
All economic systems must determine how goods and services will be produced.
Hope this helps!