What Are the Three Basic Economic Questions That Must Be

question 8

Essay

What are the three basic economic questions that must be answered by all societies?

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Definitions:

Performance Metrics

Indicators used to measure and evaluate the effectiveness, performance, and success of an organization, employee, or process.

Performance Targets

Specific goals set for a business, project, or employee to achieve within a stipulated timeframe, often used to measure success or effectiveness.

Strategy Maps

Visual tools used to communicate the company's strategic objectives and the actions needed to achieve them.

Customer

An individual or business that purchases goods or services produced by a company.