What are the three financial questions are elementary to understanding how societies allocate their scarce assets. These questions are: What ought to be produced? How ought to it’s produced? and For whom ought to it’s produced? Each society should reply these questions so as to set up its economic system.
The solutions to those questions can range enormously relying on the society’s values, tradition, and stage of improvement. In a market economic system, for instance, the choices about what to supply, tips on how to produce it, and for whom to supply it are largely made by particular person customers and companies. In a centrally deliberate economic system, then again, these selections are made by the federal government.
