What are the three basic questions faced by every economy

The three basic questions asked are:

1. What goods and services should be produced?

This is asked because the economy wants to produce what the consumers want or else the resources aren't being used efficiently since resources are scarce.

2. How should we produce them?

This is asked because the producers don't want to spend unnecessary time or money on production, so they must choose wisely what method of production is best for their company and consumers.

3. Who are the consumers?

This is asked because the producers want to make sure that they are targeting the right people with advertising or selling.

Hope this helped!

~Just a girl in love with Shawn Mendes

69.77 days

Explanation:

days' sales in inventory = number of days in a period/ inventory turnover

inventory turnover = Cost of goods sold / average inventory

Inventory turnover = $11,221 / $2,145 = 5.231235

days' sales in inventory = = 365 / 5.231235 million = 69.77 days