Question

All economic systems must answer certain fundamental economic questions. Which is not one of these questions?

1) What to produce?
2) How to produce?
3) For whom to produce?
4) What is the price of the product?

Answer 1

The option 'What is the price of the product?' is not one of the fundamental economic questions; instead, the three primary questions are 'What to produce?', 'How to produce?', and 'For whom to produce?'.

Step-by-step explanation:

All economic systems address how resources are allocated and decisions are made within a society. Three fundamental economic questions each system must answer are: What to produce, how to produce, and for whom to produce. The option "What is the price of the product?" is not considered one of these foundational questions. Prices in an economic system are often determined by market dynamics such as supply and demand or through regulation and planning in different economic models, rather than being a primary question of economic organization.