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18 June, 15:11

A. What are the basic economic decisions that every economic system must make?

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  1. 18 June, 16:51
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    there are 3 basic decision every economic system must make which is

    1) what to produce

    2) how to produce

    3) For whom to produce

    Explanation:

    1) what to produce: an economy

    must decide whatever they want

    to produce. whether books or appliances etc

    2) how too produce: an economy should also

    decide how the good and service should be produce

    whether to use iron or copper etc

    3) for whom to produce: an economy should also decide

    who will consume the goods and services been produce.
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