Answer:
The basic questions to answer are the 4 economic problems.
Explanation:
What to produce?
The question of what to produce has already been answered by determining to produce cotton shirts.
How to produce?
This deals with the procedure and materials needed for production. In answering the question of how to produce, one must a certainnn the needed materials needed, suitable labour and appropriate processes.
For whom to produce?
Not the individual or firm must ascertain the category of people he wants to produce for, it it the rich or the poor, elite or artisans, students or working class, adults or babies.
Answer:
Selling cotton shirts at a high-street store:
Manufacture: First, the factory manufactures shirts using raw materials they’ve purchased from suppliers.
Quality control: The shirts go through quality control to check for defects and to ensure uniformity among all the shirts. Quality inspectors are paid to ensure that shirts are free of defects.
Packaging/transportation: After the quality control process, the factory packages the shirts and hires transportation services to transport the shirts to the retail outlet.
Labeling: At a retail outlet, each type of shirt is valued and receives a price tag based on the discount that the storeowner decides to offer consumers.
Selling: Consumers choose between many types of shirts and may decide to purchase the shirt based on the quality and price.
Explanation:
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