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Economic Systems: Mastery Test

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If a society decides to produce consumer goods from its available resources, it is answering the basic economic question:

___ For whom to produce? ___

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Answer :

GinnyAnswer

Final answer:

The answer explains the three fundamental economic questions and how they relate to resource allocation in an economy.


Explanation:

The three fundamental economic questions are:

  1. What should be produced?
  2. How should goods and services be produced?
  3. For whom should goods and services be produced?

This question addresses the allocation of resources in an economy by focusing on the recipients of the produced goods and services, particularly in a market economy where consumers play a significant role in determining distribution.


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