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Answer to Question #58173 in Other Economics for Mmaduabuchi Sopuruchi

Question #58173
outline the problems of economics and their solutions.
Expert's answer
The 3 basic problems of economics are:
- What to produce?
- How to produce?
- For whom to produce?

The solutions for them are:
- The products, which will satisfy consumer wants;
- Production process must be as best as possible using effectively the limited resources available;
- The producer must be oriented towards the target group, which will potentially buy his products (including sex, gender etc. criteria).

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