In November 2024
Answer to Question #242199 in Macroeconomics for Varoujan
What are the three basic decisions every economy must make? Why must these decisions be made?`
An economic system is any system of allocating scarce resources. Economic systems answer three basic questions: what will be produced, how will it be produced, and how will the output society produces be distributed.
The answer to these three questions is the answer to the main task of economic processes.
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#340153 on Dec 2023
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