Share This Article:

Economic Definition of three questions of allocation. Defined.

Offline Version: PDF

Term three questions of allocation Definition: 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?


« third-world country | three-sector aggregate expenditures line »


Alphabetical Reference to Over 2,000 Economic Terms