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Q: How a society answers the three economic questions defines?
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What is allocation in economics?

The allocation process in a particular society's economy is the process by which the three fundamental economic questions get answered in the society.


How does a society answer the three economic questions about the production and consumption of goods and services?

Its answer is based on the importance it attaches to various economic goals and societal values.


How does a society answer the three economic questions about the production and consumption of good and services?

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How does the society answer three economic questions about the production and consumption of good and services?

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Market Socialism cannot exist, so the question here is meaningless. Socialism means a classless stateless society based on production for use, with no wages or prices or money.


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What are the 3 basic economic questions faced by every society?

This is really simple it is like for who, what, and where . You should have learned this information in middle school. Here is the 3 basic questions that every society needs to answer. How to distribute, What is the item?, and For whom to produce?


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Socioeconomic questions are questions that involve Social and Economic information about a person or place. What was the socioeconomic situation 5 years ago? Which means: What was the Social status and the economic statues 5 years ago? Another way to put it is What was my socioeconomic level as a child? Which translates to: What was my social and economic status as a child? Which is a question asking whether I was social in a rich society or not.


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