What are some needs and concerns that governments must consider when answering the Three Basic Economic Questions?

What should we produce?

How should we produce it?

For whom should we produce it?

A society (or country) might decide to produce candy or cars, computers or combat boots. The goods might be produced by unskilled workers in privately owned factories or by technical experts in government-funded laboratories. Once they are made, the goods might be given out for free to the poor or sold at high prices that only the rich can afford. The possibilities are endless.

Although every society answers the three basic economic questions differently, in doing so, each confronts the same fundamental problems: resource allocation and scarcity.

Resources are all of the ingredients needed for production, including physical materials (such as land, coal, or timber), labor (workers), technology (not just computers but, in a broader sense, all the technical ability and knowledge that is necessary to produce a given commodity), and capital (the machinery and tools of production). Scarcity refers to the essential fact that people’s wants or desires are always going to be greater than the resources available to fulfill those wants.

Simply put, scarcity means that resources are limited. No country can produce everything, no matter how rich its mines, how massive its forests, or how advanced its technology. Because of the constraints of scarcity, then, decisions must be made about resource allocation (that is, how best to allocate, or distribute, resources for the maximum benefit of the society).

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acts of terrorism occur globally. the united nations global counter-terrorism strategy was created in order to build adequate systems of support and solidarity with victims of terrorism. here´s a summary of the proposed key themes: the importance of giving victims a face and a voice; protecting their dignity; giving victims legal status and defending their legal rights; providing victims with medical, psycho-social and financial support; building solidarity with victims; improving media coverage of victims; and focusing on the link between victims and counter-terrorism efforts more generally.

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