All societies confront three basic economic problems Which of the following is NOT one of them ?
Correct answer: A. determining how much each individual should be paid
- A. determining how much each individual should be paid
- B. determining how to employ limited resources
- C. determining what goods and services to produce
- D. determining for whom goods and services should be produced
Explanation
The basic economic questions are what to produce, how to produce it using scarce resources, and for whom to produce it. Deciding each person's pay is a distributional issue, not one of the three fundamental allocation questions.
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