GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which is NOT a question all societies have to answer due to scarce resources?
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When will products be produced?
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How will products be produced?
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What products will be produced?
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Who will gets access to the resources and the products they produce?
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Explanation:
Detailed explanation-1: -While most resources and goods are scarce, some are not-for example, the air that we breathe.
Detailed explanation-2: -Things that are scarce, like gold, diamonds, or certain kinds of knowledge, are more valuable for being scarce because sellers of these goods and services can set higher prices.
Detailed explanation-3: -What should be produced? Using the economy’s scarce resources to produce one thing requires giving up another. How should goods and services be produced? For whom should goods and services be produced?
There is 1 question to complete.