Every society must answer which one of the following questions?
A)Which variables are exogenous and which are endogenous?
B)Who will receive the goods and services?
C)What goods and services will be produced, how much will be produced, who will produce them and who will receive them?
D)How centralized should government bureaucracy be?

Question

Quizplus · Accepted Answer

The question of what goods and services will be produced, how much will be produced, who will produce them and who will receive them is the fundamental question that every society must answer when it comes to economic organization. This is also known as the central economic problem. The other options may be relevant in certain contexts, but they do not capture the essence of what every society must address. This is the fundamental question of economics and is known as the economic problem. It involves making choices about the allocation of scarce resources to produce goods and services for consumption. The answer to this question has major implications for the entire society including income distribution, economic growth, employment, and social welfare.

Every Society Must Answer Which One of the Following Questions