Question

Name the main economic questions that all countries face.

Answer 1

Answer:

1 What goods and services will be produced?

3 How will goods and services be produced?

5 Who will consume the goods and services?

Explanation:

These are the three fundamental questions of the economy. All capitalist countries operating under the logic of market economies are guided by these questions in all productive spheres. For example, if you are going to start a business, you will first have to decide what you are going to produce (what kind of good am I going to produce?). Secondly, you will need to map your consumer market (to whom will it be produced?). And finally, to produce you will need a methodology that minimizes your production costs and maximizes your revenue (how to produce good?). Note that these questions are pertinent and guide any and all businesses.

Answer 2

The following are the main economic questions that all countries face:

1What goods and services will be produced?
3How will goods and services be produced?
5Who will consume the goods and services?

These questions directly impact the supply and demand of goods and services that will be available for consumption within a given country.