The fundamental economic problem of scarcity means that finite resources must satisfy infinite wants. Which of the following represents the three basic questions that every economic system must address as a direct result of this problem?
How to control inflation, how to reduce unemployment, and how to increase GDP growth
What to produce, how to produce, and for whom to produce
How to tax income, how to allocate welfare, and how to balance the state budget
How to achieve productive efficiency, allocative efficiency, and dynamic efficiency
