Question

scarcity and resource use
there are three basic questions that must be
answered when producing goods and services:
what will be produced? how will it be produced?
for whom will it be produced? economists study
factors of production to understand how societies
answer these questions. there are four main
factors of production: natural resources, capital,
labor, and entrepreneurs. there is a limited supply
of each factor. if a factor of production is in
short supply, the situation could cause a
contraction of the business. on the other hand, if

how will it be utilize?

what is scarity?

why will it benefit people?

how will it be produced?

for whom will it be produced?

what will be produced?

Explanation:

The text clearly states the three basic questions for producing goods and services as "What will be produced?", "How will it be produced?", and "For whom will it be produced?". These are the key points from the given content.

Answer:

• "How will it be produced?"
• "For whom will it be produced?"
• "What will be produced?"