a power company decides to use wind turbines to provide electricity instead of coal. which basic economic question does this decision answer in a free market economy?
a power company decides to use wind turbines to provide electricity instead of coal. which basic economic question does this decision answer in a free market economy?
Answer: The decision by a power company to use wind turbines to provide electricity instead of coal primarily answers the basic economic question of “What goods and services should be produced?” in a free market economy. Specifically, it addresses the allocation of resources and production toward more environmentally friendly and renewable energy sources, which is driven by consumer preferences and market demand for cleaner energy options. In a free market economy, consumer choices and market forces play a significant role in determining the allocation of resources and the types of goods and services that are produced.