GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is NOT a question that results from scarcity?
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What will be produced?
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Where will it be produced?
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How will it be produced?
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For whom will it be produced?
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Explanation:
Detailed explanation-1: -Money, space, time, and energy are not scarce because you don’t have as much of them as you want.
Detailed explanation-2: -What to produce? ➢ What should be produced in a world with limited resources? How to produce? ➢ What resources should be used? Who consumes what is produced? ➢ Who acquires the product?
Detailed explanation-3: -What should we produce? How should we produce it? For whom should we produce it?
There is 1 question to complete.