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Explain the central problem of for …

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Explain the central problem of for whom to produce

Posted by Shika Karki 7 years ago

CBSE > Class 12 > Economics

2 answers

Mayank Singh 7 years ago

This problem refers to the problem of selection of category of people who will ultimately consume goods i.e., wheither to produce for more rich and less poor or more poor less rich

Vikram Kumar 7 years ago

This is also called distribution of income(Y) .The economy has to decide for whom to produce and in what quantity .Because national income is the combined effort of different means of production . These are of two types: 1. Societal distribution : Distribution of resources to society or among people . 2. Factoral distribution : Distribution of resources to " factors of production " i.e. ( land, labour, capital,entrepreneur ).

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