The economic questions about what and how to pr... - JAMB Economics 2017 Question
The economic questions about what and how to produce in an economy is solely answered by the _______?
A
government
B
labour union
C
private and public enterpriser
D
system of economy practised
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Correct Option: D
Every society answers the three basic economic questions differently, in doing so, each confronts
the same fundamental problems: resources allocation and scarcity. For every society, the answer
to the three basic questions depend on what kind of economic system it uses. The term economic
system refers to the way in which a society organize the production and distribution of goods and
services.
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