THREE QUESTIONS OF ALLOCATION: The three basic questions that an economy must answer because of limited resources and unlimited wants and needs are: What? How? and For Whom? The basic problem of scarcity requires every society to determine: What goods to produce? How to produce the goods? and Who receives the goods that are produced? See also | scarcity | efficiency | allocation | What? | How? | For Whom | limited resources | unlimited wants and needs |
