Tristan has gotten very good at painting characters in fantasy settings. he has just bought acrylic paint and canvas in bulk, intending to start a painting business. which statement best addresses the next economic question tristan needs to answer? . a. buy a web domain and build a website.. b. market to online game players.. c. network with other painters.. d. plan a company budget

The statement best addresses the next economic question Tristan needs to answer is Market to online game players.

There are three basic economic questions that society should ask when deciding to use scarce resources. Those three basic questions are:  

1. What to produce: what goods to produce or services to offer? It can be determined by the government or by society based on demand and supply.

2. How to produce: There are many ways to produce goods or services. Should the production locally or outsource to another country? What technology be used in production?  

3. For whom to produce: Who will consume the goods and services? This question is about the target market.

In Tristan's case, he already answered the first two questions:  

1. What to produce? He decided to produce painting characters in fantasy settings.  

2. How to produce? He is planning to produce painting characters using acrylic paint and canvas.

3. The next question would be, whom to produce? Who is going to use the painting characters? Who is the customer? This business will have a big market for online game players.

Economic questions

Market economy

Basic economic question

Keywords: basic economic question, three economic questions, what to produce

answer; (consensus);