WHAT TO PRODUCE:
This implies the determination of what goods and services are to be produced and in what quantity. For instance, should Nigeria embark on producing consumable goods (food stuffs) to feed her hungry citizen or embark on importation of ammunitions?
HOW TO PRODUCE:
This equally implies the determination of the method or techniques to be adopted in producing the goods and services chosen. That is to say, of what technological method are the goods to be produced or how shall goods be produced. The method of this production could be by:
(a) Labour intensive method: i.e. where human labour is employed or used.
(b) Capital intensive method: i.e. where more capital are used than machine. This method is found in Western countries like United States of America and Great Britain.
FOR WHOM TO PRODUCE:
This question addresses the issue of who to get or enjoy the benefits of goods and services produced and of what quantity will he enjoy.