Microeconomics: Principles, Applications, and Tools (8th Edition)

Published by Prentice Hall
ISBN 10: 0-13294-886-9
ISBN 13: 978-0-13294-886-9

Chapter 1 - Introduction: What Is Economics? - Exercises - 1.1 What is Economics? - Page 13: 1.1

Answer

what how who

Work Step by Step

A society must determine what products are needed by the society. Having determined that a product is needed, society must determine how to produce that product. A key factor in determining the products that are needed is knowing who will use that product.
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