Question

What are the three basic economic questions all societies must answer? A. Who gets to produce goods and services, who gets to consume them, and who collects the profits? B. Why should goods and services be produced, when should they be produced, and how should they be produced? C. Where should goods and services be produced, who should sell them, and who should get the profits? D. What goods and services should be produced, how should they be produced, and who will consume them?

Answer 1

Answer: D

Explanation: As a result of scarce resources, societies must answer three key economic questions: – What goods and services should be produced? – How should these goods and services be produced? – Who consumes these goods and services?