Answer :
Explanation:
The three basic economic questions are;
- What goods and services should be produced?
- How should these goods and services be produced?
- For whom should these goods and services be produced?
Remember, the United States is a capitalist economy, meaning, most of the means of production in the society are controlled by private businesses.
Thus, having such a minimal role of the government in production or prices, this implies that the three basic economic questions are to be mainly answered by individual businesses.
The following are the three basic economic questions:
- What kinds of goods and services should be manufactured?
- What methods should be used to create these goods and services?
- Who should these goods and services be manufactured for?
Remember that the United States is a capitalist economy, which means that private corporations control the majority of the society's means of production.
As a result of the government's low engagement in production and pricing, the three basic economic questions are mostly resolved by private enterprises.
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