SE eV eS Scarcity is a fundamental problem that society faces. Thus, to cope with scarcity, every country has to properly allocate its limited resources. Regardless of their economic system, every society must answer three fundamental questions concerning what to produce, how to produce, and for whom to produce. Farah Lg UK ae) LU =e | aoa Des ee ei unre sea Ceca about the categories and quantities of goods and services to be Moe eet ee ce of automobiles because the country possesses a huge amount CRC cate Ce nney EES h HOW TO PRODUCE? | oa Pecan eee ane er ten) Dee CU OM ME MU mel cd resources are to be combined in producing the final COUT Ca A CRA OUT LE robots rather than human labor in shipbuilding, then the second question is answered. involves decisions on how goods and services are CS LT ET TC cere a USSU MUI) should every member gets and how should this good or eR RUC MER eel ake a cd total textile production and delivers this through cargo Maire Cat a ioeue ccm (2) ECONOGRAPHICS ECONOMIC CONCEPTS SIMPLIFIED Ne