Question

Which of the following illustrates one of the three questions of economics?

How many proposals do we need to get this product approved?
Do our salespeople know how to price this product based on competition?
Is this product going to cost more to distribute than our other products?
Should we use the assembly line method to create this product?

Answer 1

Answer – Should we use the assembly line method to create this product?

The three basic questions of economics (Given that there is relative scarcity) are what to produce, how to produce it and for whom it should be produced. The question, “Should we use the assembly line method to create this product?” illustrates the question of how production should be done.