To answer the question of how goods and services are to be produced, society must decide

Question

Quizplus · Accepted Answer

Society must decide how to combine its scarce resources in the most efficient way possible to produce the desired products or services. This involves making choices about what production methods to use, what technologies to employ, and what factors of production (such as labor, capital, and land) to allocate to different sectors of the economy. The other choices listed (A, C, and D) are either not relevant to this question or are not the primary concern when deciding how goods and services are to be produced.

To Answer the Question of How Goods and Services Are