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16 July, 06:16

What is the role of the three questions of economics?

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  1. 16 July, 09:05
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    The role of three question of economics is to act as the basic principle of production decision making. "What to produce", "How to produce", and "For whom it should be produced" are the three basic questions of economics. We have to consider the type of product, the method of producing it, and the consumer when making a production decision.
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