One of the four basic tasks any economic system must perform is
A) measuring the size of its production possibilities curve.
B) conducting a population census.
C) eliminating free resources.
D) classifying economic resources.
E) determining the kinds of goods to be produced and the amount of each.

Question

Quizplus · Accepted Answer

The task of determining the kinds of goods to be produced and the amount of each is known as allocation or resource allocation. It is one of the primary functions of any economic system. The other options listed do not directly relate to this task.

One of the Four Basic Tasks Any Economic System Must