what goods and services should be produced? how should goods and services be produced? who consumes the…

what goods and services should be produced? how should goods and services be produced? who consumes the goods and services? engage how does the united states answer the three key economic questions?

what goods and services should be produced? how should goods and services be produced? who consumes the goods and services? engage how does the united states answer the three key economic questions?

Answer

Brief Explanations:

In the United States, the market - based system plays a major role. For what goods and services should be produced, consumer preferences and profit - seeking by firms drive production decisions. How goods and services are produced is determined by firms' cost - minimizing decisions, choosing the most efficient combination of inputs like labor and capital. Who consumes the goods and services is mainly determined by purchasing power, with those having more money being able to consume more.

Answer:

What goods and services should be produced: Determined by consumer demand and firm profit - seeking. How goods and services should be produced: Decided by firms' cost - minimizing input combinations. Who consumes the goods and services: Mainly based on purchasing power.