I’m posting this so I don’t forget it:
In very broad terms, we (both as individuals and as a society), have to make four types of decisions over and over and over all the time. These four decisions are what economists call the “four fundamental questions”. They are:
- What goods should we produce with our limited resources?
- How much of those goods should we produce (quantity)?
- How do we produce them? What technology or method? Who does the work?
- Who gets to consume the goods we produce and get the benefits?