Fundamental Normative Economics

The fundamental economic question for that answers are most likely to be different greatly across the populace and be most heavily based upon value judgments is: (1) what goods will society produce? (2) how will resources be used to yield the goods society chooses to produce? (3) to whom will the goods produced be distributed? (4) when will non-renewable productive resources be used, and while will goods be consumed? (5) who will make decisions about production and consumption?

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