Question

What are the three choices that all economies must make?

Answer 1

The economy is a mechanism that solves the finite resource issue within society. Economies take many types, including economies of the free market, economies of influence, mixed economies, and conventional economies.

The three fundamental decisions that all economies make are what to produce, how it is produced and who is consuming it.

Goods and services are delivered in a variety of different ways. Payment ability is the approach most of us know best. It basically says anyone who can afford to buy a hat can get one. Another solution is gender equality. The Soviet Union adopted that approach prior to its collapse. Unfortunately there was such a shortage of goods that lines formed for everything. Rather than evenly distributing goods, the scheme favored those who got in line
It was early and he had time to wait. As a result , some people were getting more than their share, while others were getting none.