In economics, the three basic elements of a game are: Multiple choice question. 1) the players, 2) the list of possible actions available to each player, and 3) the payoffs received for each possible combination of actions 1) the consumers, 2) the producers and 3) the surplus that accrues to each 1) the players, 2) the actions taken by each player in equilibrium and 3) the payoffs received in equilibrium