Dan was certain that his upcoming economics test would be so easy that he could wait to study until the night before and still do well on the exam. when he cracked open his book and notes the night before the exam, he realized he should've started studying earlier. according to behavioral economics, dan's error was caused primarily by

a planning fallacy.

Explanation:

The fallacy of planning is a concept we all know. It is related to such a common phenomenon that planning does not coincide with the facts. This, particularly in terms of time. In Dan's case, subjects for the economics test seemed so common to him that he planned to study the day before the test. However, Dan realized that his planning did not match reality. The subject of the test was not so common and he should have studied in advance.

This inconsistency between planning and execution has many consequences in terms of time, of course. However, it also has implications in terms of resources, productivity and efficiency. Even the fallacy of planning can have very serious effects on the emotional plane.

every society, in order to meet the needs of it's people, has to answer three basic questions:

- what should we produce?

- how should we produce it?

- for whom should we produce it?

this questions must be answered in order to, option b, aid in production decisions.

every country can't produce everything, no matter how rich their land is. it may be a matter of technology, resources or geographical conditions. so, these three questions must be resolved in order to get the most of the production of each land.

hope this !