a clothing company produces a new line of inexpensive jeans using a special process that is environmentally friendly. In this example, how has society answered the three basic economic questions?

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17-01-2018
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a clothing company produces a new line of inexpensive jeans using a special process that is environmentally friendly. In this example, how has society answered the three basic economic questions?

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Greenleafable Greenleafable · Answer 1 · 2018-01-27T01:47:04+01:00

The three basic questions are what should be produced, how it should be produced, and for whom should it be produced. The answer for the first question is jeans, they decided to begin making jeans. The second question's answer is by using a special process to be environmentally friendly. The third question's answer is for people who are not as wealthy which is found in the description that they are inexpensive jeans. This way they've answered all three questions and their business can begin thriving if there's a demand for it.

pstnonsonjoku pstnonsonjoku · Answer 2 · 2021-11-02T17:42:04+01:00

The world is in need of inexpensive clothing produced at the lowest possible cost in an environmentally friendly process.

There are three basic economic questions which are;

What to produce?
How to produce?
Who consumes what is produced?

These questions are the prime concern of any production process. In this case, a clothing company produces a new line of inexpensive jeans using a special process that is environmentally friendly.

The company located that the need of the world is inexpensive clothing. This answers the question of "what to produce". The process is special and is environmentally friendly so it answers the question "how to produce". Due to the fact that the jeans are inexpensive, they will easily be acquired by people at low cost especially the low income earners. This answers the question "who consumes what is produced".

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