What are the three financial questions are elementary to understanding how societies allocate their scarce sources. These questions are: What must be produced? How ought to or not it’s produced? and For whom ought to or not it’s produced? Each society should reply these questions with the intention to arrange its economic system.
The solutions to those questions can differ enormously relying on the society’s values, tradition, and stage of growth. In a market economic system, for instance, the selections about what to provide, how one can produce it, and for whom to provide it are largely made by particular person customers and companies. In a centrally deliberate economic system, alternatively, these choices are made by the federal government.
