Anwering the three ¿Q's?

s sdWhat goods and services should be produced?

sdfgsNow in days, in a complex society it is more difficult to distinguish between needs and wants. Modern societies found additional important factors, such as, How much of our resources should we split in between national defense, education, public health and wealfare, or consumer goods?

 

 

 

 

 

How should these goods and services be produced?

sdkfjshdAnother question we face is should be produce electricity with oil, solar fhjdpower, or nuclear power? Should teacher have classes of 20 students or 50 kfklstudents? Should we produce food on large corporate farms or on small family kfjkfarms?

 

 

Who consumes these goods and services?

gfdNow in days in order to distribute the available goods and services, societies must decide how to do such actions. To solve such problem like this, societies do Factor Payments (people receive income for supplying factors of production[land, labor, capital or entrepreneurship])