Which fundamental economic question requires society to choose the technological and resource mix used to produce goods?

The How to produce question.

Explanation:

Economics can be classified into two (2) categories, namely;

1. Macroeconomics can be defined as the study of behaviors, performance and factors that affect the entire economy. Hence, it focuses on aggregate phenomena such as price level, economic growth, Gross Domestic Product (GDP), inflation, unemployment and national income levels with respect to the central bank, demand or supply shocks, government policies, aggregate spending and savings.

2. Microeconomics can be defined as the study of the effect of price and quantity levels through interactions between individual buyers and sellers in various markets. Thus, it is focuses on analyzing or evaluating the decisions of consumers (buyers) and those of firms (sellers) such as methods of production, pricing; and the manner in which government policies affect those decisions.

The fundamental economic question which requires the society to choose the technological and resource mix used to produce goods is, how to produce question.

This fundamental question is simply focused on the determination of the methods and techniques to be adopted by a manufacturer in the production of goods and services to meet the needs or requirements of the consumer.

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