With reference to the basic economic decisions, all economies must determine:

Question

Quizplus · Accepted Answer

All economies must decide on the methods and techniques to use in the production of goods and services, as this is fundamental to addressing the basic economic problem of how to allocate scarce resources. Choices A, C, and D are more specific to certain economic systems or policy decisions rather than fundamental economic decisions that all economies must make.

With Reference to the Basic Economic Decisions, All Economies Must