Economic systems seek to answer what key economic questions? select all that apply
1.) how should goods and services be produced?
2.) where goods and services will be produced?
3.) when goods and services will be produced?
3.) what good services will be produced?
4.) who will consume goods and services?


The key economic questions are:
D what goods and services will be produced
A. how should goods and services be produced
E. who will consume goods and services

By following these three basic questions a potential businesses will have a higher chance to penetrate the market and take profits for their products
The correct answers here would be the second and the thirds option.

Every economic system must have a way to deal with the issue of scarcity which may come at some point in the societies existence. Also it needs to answer the three key questions of what, how and who consumes goods and services. These are the basic things that the economic system seeks to accomplish.
The answers are:     [a]:   "how should goods and services be produced? "  [d]:   "what goods and services will be produced? " ;   and:   [e]:   "who will consume goods and services? " .
How to spend their limited resources.
How goods and services are supplied to buyers or consumers, and how the resources and production of these goods are organized. Examples are Free Enterprise, Command, Socialist or Barter, each economic system will answer the three economic questions differently. 

hope this helped :)

The correct answers are

help countries respond to the issue of scarcity

answer the three key economic questions

Economic systems help countries determine how scarcity will be addressed. Scarcity is the idea that there is a limited number of resources in the world, forcing citizens and businesses to make decisions regarding what they can buy and produce. Some economic systems allow for choices to be made by citizens and businesses alike (like capitalism). Other economic systems revolve around the idea of government planning, which essentially allows the government to make decisions for businesses and citizens (such as communism).

The correct answers are the options: A, D and E.


To begin with, the economic systems seek the correct distribution of the goods and services produced in a particular economy to the major amount of people of that economy due to the fact that the scarcity will impact against that distribution. Therefore that the main questions to be asked from all the economists who try to fight against the scarcity, are the questions of what the economy must produce in order to survive; how the economy should produce those goods and services despite scarcity; and finally to whom will the economy produce due to the fact that there is not enough for everyone.

Help nations respond to the problem of scarcity and solve the three key economic issues, are the right answers.


The economic system of a nation helps the government to counter the problem of scarcity. Scarcity in the context of Economy is the belief that there is a restricted number of resources throughout the world, urging citizens and corporations to make choices about what they can purchase and produce. At the same time, some economic systems provide choices to be executed by citizens and companies alike (such as capitalism). Another system of economics revolves around the notion of state planning, which actually supports the government to make choices for companies and residents (like communism).

All economic systems must answer the 3 basic questions:

1. What goods and services will be produced

2. How will the goods and services be produced?

3. Who will consume the goods and services?

what goods and service to produce

how should goods and service be produced

when goods and service will be produced


Do you know the answer?

Other questions on the subject: Business

Business, 22.06.2019, nanamath5662
D they will receive a tax credit for the cost borne for adopting the childor C they will recieve childcare grantsi hope this helps...Read More
3 more answers
The answer,in this case would be option A) given in the answer choices or total fixed costs will remain the same and total variable costs will change.Explanation:In Microeconomics...Read More
3 more answers
President obama indicates that there are several reasons for the financial crisis. according to the president, one reason is irresponsible practices by financial institutions. the...Read More
2 more answers
Business, 22.06.2019, leo4687
Debtor - The party to a credit transaction who takes on an​ obligation/payableCreditor - The party who receives a receivable and will collect cash in the futureNotes receivable - A...Read More
1 more answers
Business, 23.06.2019, Bloom247
it established new limitations on use and disclosure for marketing purposes, prohibited selling medical information, expanded individuals’ rights to accessing their own information...Read More
2 more answers