The questions of economics address the following three:
- What: What goods and services should be produced?
- How: How should the goods and services be produced?
- Who (or For Whom): Who will receive or consume the goods and services produced?
These three fundamental questions arise because of scarcity and the need to allocate limited resources efficiently.
"Where," "When," and "Why" are not typically part of the core economic questions. The focus is on what to produce, how to produce it, and for whom to produce it in economic decision-making.
