Question:
If Microeconomics is considered to be the study of scarce resources (Perloff, 2007). In which consumers (both individuals and organizations) must make allocation decisions. These three basic trade-offs include which goods/services are to be produced, how to produce them, and who gets them.
Briefly explain how these three trade-offs are determined using a specific good/service found on the Internet:
Which goods/services are produced in your example?
How will they be produced?
Who purchases them?