The basic economic question which determines how a society will produce goods and services is How can available resources be used efficiently?
Every society must answer to three fundamental economic concerns in order to meet the requirements of its citizens:
Knowing that the idea of scarcity is crucial in economics, the availability of resources is the foundation of any economy. Governments therefore put an attempt to utilize their available resources as efficiently as possible. It is up to the economies to decide what to produce, how much to produce, when to produce it, and how much to produce it for. These are the fundamental inquiries that a responsible government must address while taking into account the number of resources available.
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