The Economic Question Flashcards
1
Q
‘What’
A
The what economic question is used by producers to work out what is the best product to make to satisfy the peoples
wants. If something changes in popularity or a producer decides on a new product it is a what question.
2
Q
‘How’
A
The How question is used by producers to work out the best way of making a product with the most efficient use of
resources. If a producer decides or changes how to make a product is a how question.
3
Q
‘Who’
A
The who question is concerned with who gets the benefit of a product or service and can relate to incomes as well. If
someone’s income changes through pay, benefits or tax it is usually a who question.
