Question

Jan and jamie are starting a nonprofit store. they plan to sell handmade scarves and jewelry. which basic economic question do they still need to answer? for whom to produce? how to produce? what to produce? why to produce?

Answer 1

The correct answer is 'for whom to produce?' Jan and Jamie still needs to answer the basic economic question 'for whom to produce?'

Due to the limited availability of resources, every community must allocate limited resources in order to satisfy human needs to the greatest extent possible. The allocation of resources brings up the central economic issue, or the central problem of the economy, which is the production, distribution, and disposal of products and services. This makes it easier to comprehend the goods or services the society needs (what to produce), how to make them (how to produce? ), and who will use them (for whom to produce).

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