1. What goods and services should be produced to meet consumers' needs? In what quan- tity? When should they be produced? 2. How should goods and services be produced? Who should produce them, and what re- sources, including technology, should be combined to produce them? 3. Who should receive the goods and services produced? How should they be allocated among consumers?

1. What goods and services should be produced to meet consumers' needs? In what quan- tity? When should they be produced? 2. How should goods and services be produced? Who should produce them, and what re- sources, including technology, should be combined to produce them? 3. Who should receive the goods and services produced? How should they be allocated among consumers?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter2: Choice In A World Of Scarcity

Section: Chapter Questions

Problem 25P: If the price of a pie is 12, what is the maximum number of pies she could buy in a week?

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