What are the three basic economic questions a society must answer ?
The short answer is i) What to produce?; ii) How to produce?; and iii) Whom are we producing for?
See:
- Samuelson, P. A., & Nordhaus, W. D. (2010). Economics (19th ed.). McGraw-Hill Education.
- Mankiw, N. G. (2020). Principles of Economics (9th ed.). Cengage Learning.
- Colander, D. C. (2020). Microeconomics (11th ed.). McGraw-Hill Education.
Danny Wareham Very clear and consice explanation
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